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Guideline Value

Corporate

Guideline Value for Ottar Palayam 5th Street

₹4400/sq.ft.

The guideline value for Ottar Palayam 5th 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 5th Street

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Ottar Palayam 5th Street guideline value

The current guideline value for Ottar Palayam 5th 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, classified as Residential Class III Type - III.

How the guideline value of Ottar Palayam 5th Street has changed

The guideline value for Ottar Palayam 5th Street has undergone several revisions since 2007. In 2007, the value was Rs 3,800 per sq.ft, which then increased to Rs 4,000 per sq.ft in 2012, marking a 5% rise. However, from 2012 to 2017, the value decreased significantly to Rs 2,680 per sq.ft, reflecting a 33% drop. The value then rose to Rs 4,000 per sq.ft in 2023, a 49% increase from the 2017 figure, and finally reached Rs 4,400 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 16%.

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 for these streets is Rs 4,900 per sq.ft, placing Ottar Palayam 5th Street below this median.

Stamp duty and registration fee for property in Ottar Palayam 5th 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 duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ottar Palayam 5th Street?

The Sub Registrar Office that covers Ottar Palayam 5th 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 information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ottar Palayam 5th Street?

The current guideline value of Ottar Palayam 5th 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 the years.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Ottar Palayam 5th Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Ottar Palayam 5th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ottar Palayam 5th Street?

The Sub Registrar Office for Ottar Palayam 5th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.