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Guideline Value

Corporate

Guideline Value for Ottar Palayam 3rd Street

₹4400/sq.ft.

The guideline value for Ottar Palayam 3rd Street in Kodambakkam village (Ashok Nagar SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodambakkam

Village

Ashok Nagar

SRO

Residential Class III Type - III
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹3800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561082
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ottar Palayam 3rd Street

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Ottar Palayam 3rd Street guideline value

The current guideline value of Ottar Palayam 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Ottar Palayam 3rd Street has changed

The guideline value for Ottar Palayam 3rd Street has undergone several revisions over the years. In 2007, the value was Rs 3,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 5% increase. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a 33% drop. The guideline value then rose significantly to Rs 4,000 per sq.ft in 2023, an increase of 49% from the previous revision. The latest revision in 2024 saw the value rise to Rs 4,400 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figures for this street in 2002 and 2003. Overall, from 2007 to 2024, there has been a 16% increase in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that the 2024 figure for Ottar Palayam 3rd Street is below the median.

Stamp duty and registration fee for property in Ottar Palayam 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ottar Palayam 3rd Street?

The Sub Registrar Office that covers Ottar Palayam 3rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is set by the government and is periodically revised to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the latest figures to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ottar Palayam 3rd Street?

The current guideline value of Ottar Palayam 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 16% over this period.

What are the other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam with the same guideline value of Rs 4,400 per sq.ft in 2024 include Ottar Palayam 1st Street, 2nd Street, 4th Street, 5th Street, 6th Street, and 13th Street.

What is the registration fee for property in Ottar Palayam 3rd Street?

The registration fee for property in Ottar Palayam 3rd Street is calculated at 2% of the guideline value. For a plot valued at Rs 44,00,000, the registration fee would be Rs 88,000.

Where can I find the Sub Registrar Office for Ottar Palayam 3rd Street?

The Sub Registrar Office for Ottar Palayam 3rd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.