Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Noombal village, which falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Othavadai Street has changed

The guideline value of Othavadai Street has seen significant changes over the years. In the 2003 revision, the value was Rs 139 per sq.ft, which increased to Rs 1,273 per sq.ft in 2017. This marked an increase of 816%. The value further rose to Rs 1,900 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002, 2007, and 2012 for Othavadai Street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1404%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with a 2024 guideline value range from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, which is equal to the current value of Othavadai Street.

• Pada Salai Street: Rs 2,090 per sq.ft (2024)
• Padmavathi Nagar: Rs 2,090 per sq.ft (2024)
• Noombal Vellalar Street and Main Road: Rs 2,090 per sq.ft (2024)
• Noombal Theruveethiamman Koil Street: Rs 2,090 per sq.ft (2024)
• Noombal Salai: Rs 2,420 per sq.ft (2024)
• Noombal Ponniamman Koil street: Rs 2,090 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 of Rs 2,090 per sq.ft, the guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. 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 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 Noombal

The guideline value is a crucial factor in the registration process when buying or selling property in Noombal. 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 guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 139 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 1404% over this period.

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

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office handles registrations for Othavadai Street?

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

What is the land classification for Othavadai Street?

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