Guideline Value for Ottapalayam (a) Sasthiri Nagar

Ottapalayam (a) Sasthiri Nagar guideline value

The current guideline value of Ottapalayam (a) Sasthiri Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Chengalpattu Town village under the Chengleput Joint I SRO, classified as Residential Class V Type - I.

How the guideline value of Ottapalayam (a) Sasthiri Nagar has changed

The guideline value for Ottapalayam (a) Sasthiri Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 285 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017 before rising to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 brought the guideline value to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 479%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,025 per sq.ft, placing the 2024 figure for Ottapalayam (a) Sasthiri Nagar below this median.

• Ottapalayam Santhu: Rs 1,650 per sq.ft (2024)
• Old G.S.T.Road 3: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 2: Rs 3,025 per sq.ft (2024)
• Old G.S.T.Road 1: Rs 3,025 per sq.ft (2024)
• Periyamaniyakara Street: Rs 4,125 per sq.ft (2024)
• Pillaiyar Kulam Street: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Ottapalayam (a) Sasthiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Ottapalayam (a) Sasthiri Nagar?

The Sub Registrar Office covering Ottapalayam (a) Sasthiri Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Chengalpattu Town. It serves as a benchmark for calculating the stamp duty and registration fees that are payable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ottapalayam (a) Sasthiri Nagar?

The current guideline value of Ottapalayam (a) Sasthiri Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 285 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 479%.

What are the other streets in Chengalpattu Town with guideline values?

Other streets in Chengalpattu Town under the Chengleput Joint I SRO include Ottapalayam Santhu, Old G.S.T.Road 1, Old G.S.T.Road 2, Old G.S.T.Road 3, Periyamaniyakara Street, and Pillaiyar Kulam Street, each with varying guideline values.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees are appropriately assessed during the registration process.

Where can I find the Sub Registrar Office for Ottapalayam (a) Sasthiri Nagar?

The Sub Registrar Office for Ottapalayam (a) Sasthiri Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.