Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Othavadai Street has changed

In the 2007 revision, the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 317%. However, the value then dropped to Rs 3,350 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 5,000 per sq.ft, followed by a further rise to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for Othavadai Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Othavadai Street's 2024 value above this median.

• Pachaikal Veerasamy Street: Rs 5,500 per sq.ft (2024)
• Old Cemetry Road: Rs 4,400 per sq.ft (2024)
• Officers Colony: Rs 4,900 per sq.ft (2024)
• O- Block, Ganapathy Colony: Rs 9,900 per sq.ft (2024)
• O- Block, 37th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 36th Street: Rs 9,900 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, the guideline value is Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total Rs 4,95,000. It is important to note that 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,200 per sq.ft to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 358%.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for Othavadai Street?

The AnnaNagar Sub Registrar Office is responsible for Othavadai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value for streets in Ayanavaram under the AnnaNagar SRO is Rs 4,900 per sq.ft, with Othavadai Street's 2024 value being above this median.