Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 1,485 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village under the Thirukazhukundram SRO and is classified as Commercial Class I Type - II.

How the guideline value of Othavadai Street has changed

The guideline value for Othavadai Street has undergone several revisions over the years. In 2012, the value was Rs 1,350 per sq.ft, which then decreased to Rs 904 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 1,350 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 1,485 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 reflects a 10% increase. The revisions for the years 2002, 2003, and 2007 have no figures available for Othavadai Street.

Guideline values in Mamallapuram

In Mamallapuram village, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Othavadai Street's 2024 figure above that median.

• Othavadai Cross Street: Rs 1,100 per sq.ft (2024)
• Othavadai 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Padasalai Cross Street: Rs 550 per sq.ft (2024)
• Padasalai Cross Street 1,2,3,4,5,6,7: Rs 550 per sq.ft (2024)
• Padasalai Street: Rs 1,100 per sq.ft (2024)
• Old Arts Collage Road, East side, West side: Rs 1,100 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 1,485 per sq.ft, the total guideline value amounts to Rs 14,85,000. The stamp duty at 7% would be Rs 1,03,950, and the registration fee at 2% would be Rs 29,700, bringing the total cost together to Rs 1,33,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Othavadai Street?

The Sub Registrar Office that covers Othavadai Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

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

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 1,485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2012 to Rs 904 per sq.ft in 2017, then increased to Rs 1,350 per sq.ft in 2023, and finally set at Rs 1,485 per sq.ft in 2024.

What is the land classification of Othavadai Street?

Othavadai Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the registration office for Othavadai Street?

The registration office for Othavadai Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is stamp duty calculated for properties in Othavadai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,03,950.