Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village and falls under the Acchirapakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Othavadai Street has changed

The guideline value for Othavadai Street has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a 50% rise. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft, reflecting a decrease of 33%. The 2023 revision maintained the value at Rs 400 per sq.ft, which remained unchanged in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%. The 2023 to 2024 revision showed no change, while the significant increase from 2017 to 2023 was 99%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Acharapakkam

Acharapakkam village has 61 streets under the Acchirapakkam SRO with a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value in the village is Rs 400 per sq.ft, which is the same as the current value for Othavadai Street.

• Othavadai Extension Ward 8: Rs 400 per sq.ft (2024)
• Om Sakthi Nagar Ward 9: Rs 400 per sq.ft (2024)
• North Colony: Rs 250 per sq.ft (2024)
• Pallipattu Salai Ward 8: Rs 400 per sq.ft (2024)
• Nehru Nagar: Rs 400 per sq.ft (2024)
• National Highway Ward 9: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai Street

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Othavadai Street?

The Sub Registrar Office that covers Othavadai Street is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Acharapakkam

The guideline value plays a crucial role during the registration of property transactions in Acharapakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and compliant with local regulations.

When buying or selling property, the guideline value is considered the minimum value for taxation purposes. It helps in establishing a baseline for the transaction, and the fees are calculated based on this value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting an overall increase of 100% over the years.

What is the median guideline value in Acharapakkam?

The median guideline value in Acharapakkam is Rs 400 per sq.ft, which is the same as the current value for Othavadai Street.

What are the stamp duty and registration fees for properties in Othavadai Street?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles registrations for Othavadai Street?

The Acchirapakkam Sub Registrar Office handles registrations for Othavadai Street, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.