Guideline Value for Ottar Palayam 11th Street

Ottar Palayam 11th Street guideline value

The current guideline value of Ottar Palayam 11th 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 11th Street has changed

Over the years, the guideline value of Ottar Palayam 11th Street has seen several revisions. The 2007 revision set the value at Rs 3,800 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. However, there was a significant decrease in the 2017 revision, bringing the value down to Rs 2,680 per sq.ft. The latest revision in 2024 has seen a substantial increase to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. The value increased by 5% from the 2007 revision to the 2012 revision. Overall, from 2007 to 2024, the guideline value has increased by 16%. The register does not provide figures for the years 2023, 2003, and 2002 for this street.

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 is Rs 4,900 per sq.ft, making the current value of Ottar Palayam 11th Street below this median.

• Ottar Palayam 10th 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 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, resulting in 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ottar Palayam 11th Street?

The Sub Registrar Office that covers Ottar Palayam 11th 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 determining the registration fees and stamp duty when buying or selling property in Kodambakkam. It acts as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and comply with legal requirements.

Frequently asked questions

What is the current guideline value of Ottar Palayam 11th Street?

The current guideline value of Ottar Palayam 11th 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 is the registration office for Ottar Palayam 11th Street?

The registration office for Ottar Palayam 11th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value.

How does the guideline value affect property transactions?

The guideline value serves as a benchmark for determining the minimum price at which properties can be registered, impacting the stamp duty and registration fees that buyers and sellers must pay.