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Guideline Value

Corporate

Guideline Value for Ottar Palayam 6th Street

₹4400/sq.ft.

The guideline value for Ottar Palayam 6th 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 6th Street

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Ottar Palayam 6th Street guideline value

The current guideline value of Ottar Palayam 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Ottar Palayam 6th Street has changed

The guideline value for Ottar Palayam 6th Street has seen 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. However, it then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value rose significantly to Rs 4,000 per sq.ft in 2023, and has now reached Rs 4,400 per sq.ft in the 2024 revision. The changes between these revisions include a 5% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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 value is Rs 4,900 per sq.ft, placing the guideline value of Ottar Palayam 6th Street below this median.

Stamp duty and registration fee for property in Ottar Palayam 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling 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 6th Street?

The Sub Registrar Office that covers Ottar Palayam 6th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

When buying or selling property in Kodambakkam, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. This value serves as a benchmark for the transaction, ensuring that the government receives appropriate revenue from property transactions.

At the time of registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Ottar Palayam 6th Street?

The current guideline value of Ottar Palayam 6th 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, with several revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the land classification for Ottar Palayam 6th Street?

The land classification for Ottar Palayam 6th Street is Residential Class III Type - III.

What are the stamp duty and registration fees for a property here?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles registrations for Ottar Palayam 6th Street?

The Ashok Nagar Sub Registrar Office handles registrations for Ottar Palayam 6th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.