Guideline Value for Otraivadai St ( Ward No.30 )

Otraivadai St ( Ward No.30 ) guideline value

The current guideline value of Otraivadai St ( Ward No.30 ) is Rs 1,600 per sq.ft. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Otraivadai St ( Ward No.30 ) has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft, which remained unchanged in the 2023 revision. The 2024 revision saw an increase to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available are from 2012, 2023, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Otraivadai St ( Ward No.30 ).

• Ottraivadai st ( Ward No.2 ): Rs 1,600 per sq.ft (2024)
• Ottravadai Lane: Rs 1,300 per sq.ft (2024)
• Ottravadai Street: Rs 1,600 per sq.ft (2024)
• Pachaiammal Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Pachaiappan Colony (Ward No.29): Rs 1,300 per sq.ft (2024)
• Pachaiappan Nagar (Ward No.29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Otraivadai St ( Ward No.30 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. It is important to note that 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 Otraivadai St ( Ward No.30 )?

Otraivadai St ( Ward No.30 ) is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Otraivadai St ( Ward No.30 )?

The current guideline value of Otraivadai St ( Ward No.30 ) is Rs 1,600 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a 7% increase. There was no change from 2012 to 2023, and the register has no figures for the years 2002, 2003, 2007, and 2017.

What is the land classification for Otraivadai St ( Ward No.30 )?

Otraivadai St ( Ward No.30 ) is classified as Residential Class II Type - I. This classification indicates the type of development that is permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Otraivadai St ( Ward No.30 )?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.