Guideline Value for Ottapalayam Santhu

Ottapalayam Santhu guideline value

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

How the guideline value of Ottapalayam Santhu has changed

The guideline value for Ottapalayam Santhu has seen several revisions over the years. The 2007 revision set the value at Rs 285 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, reflecting a rise of 426%. However, the value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at 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 register has no figures for the years 2002 and 2003 for this street.

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 Ottapalayam Santhu's 2024 figure below this median.

• Ottapalayam (a) Sasthiri Nagar: 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 Santhu

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, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Ottapalayam Santhu?

The Sub Registrar Office that covers Ottapalayam Santhu is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chengalpattu Town. It is used as a reference point for determining the stamp duty and registration fees that must be paid during the registration of property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ottapalayam Santhu?

The current guideline value of Ottapalayam Santhu 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 from Rs 285 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 479% over this period.

What is the registration office for Ottapalayam Santhu?

The registration office for Ottapalayam Santhu is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ottapalayam Santhu?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the median guideline value for streets in Chengalpattu Town?

The median guideline value for streets in Chengalpattu Town is Rs 3,025 per sq.ft, with Ottapalayam Santhu's value being below this median at Rs 1,650 per sq.ft.