Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Othavadai Street has changed

Othavadai Street has seen several revisions in its guideline value over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023 before reaching the current figure of Rs 1,600 per sq.ft in 2024. The register has no figure for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 275% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 7%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Othavadai Street's 2024 figure below this median.

• oragadam Road Cross Salai: Rs 2,400 per sq.ft (2024)
• Oragadam Road: Rs 2,500 per sq.ft (2024)
• Pachaiammal Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pachai Amman Koil Street: Rs 1,600 per sq.ft (2024)
• Pachaiappan Street: Rs 1,600 per sq.ft (2024)
• Om sakthi Nagar: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Othavadai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000, leading to a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Othavadai Street?

The Ambattur Sub Registrar Office covers Othavadai Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

What is the land classification of Othavadai Street?

Othavadai Street is classified as Residential Class II Type - I according to the guideline value register.