Guideline Value for Oththavadai Street

Oththavadai Street guideline value

The current guideline value of Oththavadai Street is Rs 110 per sq.ft, effective from 1 July 2024. This street is located in Kannanthangal village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Oththavadai Street has changed

The guideline value for Oththavadai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 100 per sq.ft. The most recent revision in 2024 has raised the guideline value to Rs 110 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Oththavadai Street, indicating a lack of data for those years.

Guideline values in Kannanthangal

Kannanthangal village features 22 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 900 per sq.ft. The median guideline value in this village is Rs 110 per sq.ft, which is equal to the current value of Oththavadai Street.

• Pallikuda Street: Rs 110 per sq.ft (2024)
• Nadu Street: Rs 110 per sq.ft (2024)
• M.G.R.Street: Rs 110 per sq.ft (2024)
• Mahidhara Supreme Elegant: Rs 900 per sq.ft (2024)
• Reddiyar Street: Rs 126 per sq.ft (2024)
• Kulakkarai Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Oththavadai Street

For a 1,000 sq.ft plot at the current rate of Rs 110 per sq.ft, the guideline value amounts to Rs 1,10,000. The stamp duty, charged at 7%, would be Rs 7,700, and the registration fee at 2% would be Rs 2,200, totaling Rs 9,900. 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 Oththavadai Street?

The Sub Registrar Office that covers Oththavadai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kannanthangal. It is used to determine the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and transparently. It helps in maintaining a standardized approach to property valuation within the region.

Frequently asked questions

What is the current guideline value of Oththavadai Street?

The current guideline value of Oththavadai Street is Rs 110 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 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 110 per sq.ft in 2024.

What is the land classification of Oththavadai Street?

Oththavadai Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Oththavadai Street?

The Sub Registrar Office for Oththavadai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Oththavadai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,10,000, the stamp duty at 7% would be Rs 7,700.