Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO. The land classification for this area is 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 most recent revision in 2024 set the value at Rs 1,540 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,400 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 938 per sq.ft. This marks a significant increase of 49% from 2017 to 2023, and an overall increase of 64% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012 for Othavadai Street. Thus, the only available figures are from the 2017, 2023, and 2024 revisions.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Othavadai Street's 2024 figure below this median.

• Om. Sakthi Nagar Annexe: Rs 1,870 per sq.ft (2024)
• Om. Sakthi Nagar: Rs 1,870 per sq.ft (2024)
• Om. Ganapathy Nagar: Rs 1,540 per sq.ft (2024)
• O.A.K. Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Oa Dheen Nagar: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar: Rs 1,830 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 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during the registration process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value of Othavadai Street has increased by 64%, from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024.

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

The stamp duty for a property valued at Rs 15,40,000 would be Rs 1,07,800, and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which office handles registrations for Othavadai Street?

The Kunrathur Sub Registrar Office handles registrations for Othavadai Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Othavadai Street?

The land classification for Othavadai Street is Residential Class II Type - I.