Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 310 per sq.ft, effective from 1 July 2024. This street is located in Venkadu village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Othavadai Street has changed

Looking at the historical revisions, the guideline value for Othavadai Street was Rs 300 per sq.ft in 2023, which increased to Rs 310 per sq.ft in 2024, marking a change of +3%. Prior to that, the value was Rs 201 per sq.ft in 2017, showing a significant increase of +49% over the six years leading to 2023. The register has no figures for the years 2002, 2003, and 2007.

In 2012, the guideline value was Rs 300 per sq.ft, which decreased to Rs 201 per sq.ft in 2017, reflecting a decline of -33%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of +3%.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 471 per sq.ft. The median value among these streets is Rs 300 per sq.ft, placing Othavadai Street's 2024 figure above that median.

• Om Sakthi Sri Ellaiamman Nagar: Rs 400 per sq.ft (2024)
• Nadu Stretet: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 300 per sq.ft (2024)
• Perumal Nagar: Rs 300 per sq.ft (2024)
• P.G.Road: Rs 300 per sq.ft (2024)
• Pooja Avenue: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 310 per sq.ft, the total guideline value would be Rs 3,10,000. The stamp duty at 7% would amount to Rs 21,700, and the registration fee at 2% would be Rs 6,200, bringing the total to Rs 27,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Othavadai Street?

The Sub Registrar Office that covers Othavadai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Venkadu. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2023 to Rs 310 per sq.ft in 2024, and it was Rs 201 per sq.ft in 2017. The value has seen fluctuations, including a decline from 2012 to 2017.

What is the land classification for Othavadai Street?

Othavadai Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the area.

Where can I find the registration office for Othavadai Street?

The registration office for Othavadai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Venkadu?

Stamp duty for properties in Venkadu is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.