Guideline Value for Othavadai Street

Othavadai Street guideline value

The current guideline value of Othavadai Street is Rs 260 per sq.ft, effective from 1 July 2024. This street is located in Ammayarkuppam village, under the Ramakrishna Rajupettai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Othavadai Street has changed

Looking at the revisions, the guideline value for Othavadai Street has seen several changes over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 260 per sq.ft in 2012. However, it then decreased to Rs 174 per sq.ft in 2017 before returning to Rs 260 per sq.ft in both 2023 and the latest 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value rose by 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 160%. Overall, from 2007 to 2024, the guideline value has increased by 160%.

Guideline values in Ammayarkuppam

Ammayarkuppam has a total of 43 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 260 per sq.ft. The median value is Rs 260 per sq.ft, which is equal to the guideline value of Othavadai Street.

• Paaranchi St: Rs 260 per sq.ft (2024)
• Paventhara Bharathidasan St: Rs 241 per sq.ft (2024)
• Ponniamman Koil St: Rs 260 per sq.ft (2024)
• Ma.Po.C. Salai: Rs 260 per sq.ft (2024)
• Mangala Kizhar Steet: Rs 260 per sq.ft (2024)
• L.N. Koil Street: Rs 260 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 260 per sq.ft, the total guideline value amounts to Rs 2,60,000. The stamp duty at 7% would be Rs 18,200, and the registration fee at 2% would be Rs 5,200, bringing the total fees to Rs 23,400. 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 further assistance.

Which Sub Registrar Office covers Othavadai Street?

The Sub Registrar Office that covers Othavadai Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Ammayarkuppam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

When a property is registered, the guideline value is used to determine the applicable charges. Buyers must be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Othavadai Street?

The current guideline value of Othavadai Street is Rs 260 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 260 per sq.ft in 2012, then decreased to Rs 174 per sq.ft in 2017, and returned to Rs 260 per sq.ft in 2023 and 2024.

What is the median guideline value in Ammayarkuppam?

The median guideline value in Ammayarkuppam is Rs 260 per sq.ft, which is also the guideline value for Othavadai Street.

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

For a property valued at Rs 2,60,000, the stamp duty would be Rs 18,200 and the registration fee would be Rs 5,200, totaling Rs 23,400.

Where is the Sub Registrar Office for Othavadai Street located?

The Sub Registrar Office for Othavadai Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.