Guideline Value for Ottar Palayam 10th Street

Ottar Palayam 10th Street guideline value

The current guideline value of Ottar Palayam 10th 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 10th Street has changed

The guideline value for Ottar Palayam 10th 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. The most recent revision in 2024 has brought the value back up to Rs 4,400 per sq.ft, marking a significant increase of 64% from the 2017 figure. The register has no figure for this street in the years 2023, 2003, and 2002.

When looking at the changes between revisions, the value rose by 5% from 2007 to 2012, but then saw a notable decline of 33% from 2012 to 2017. 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 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing the 2024 guideline value of Ottar Palayam 10th Street below this median.

• Ottar Palayam 11th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 12th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 13th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 1st Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 2nd Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ottar Palayam 10th 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, bringing the total fees together to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ottar Palayam 10th Street?

The Sub Registrar Office that covers Ottar Palayam 10th 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 in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Frequently asked questions

What is the current guideline value of Ottar Palayam 10th Street?

The current guideline value of Ottar Palayam 10th 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 4,000 per sq.ft in 2012, then decreased to Rs 2,680 per sq.ft in 2017, and finally increased to Rs 4,400 per sq.ft in 2024.

What is the land classification for Ottar Palayam 10th Street?

The land classification for Ottar Palayam 10th Street is Residential Class III Type - III.

Where can I find the Sub Registrar Office for Ottar Palayam 10th Street?

The Sub Registrar Office for Ottar Palayam 10th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.