Guideline Value for Ottar Palayam 13th Street

Ottar Palayam 13th Street guideline value

The current guideline value of Ottar Palayam 13th 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 13th Street has changed

Over the years, the guideline value for Ottar Palayam 13th Street has seen several revisions. The oldest recorded revision is from 2007, where the guideline value was Rs 3,800 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, 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.

Examining the changes between the revisions, from 2017 to 2024, there was an increase of 64%. However, from 2012 to 2017, the value saw a decrease of 33%. The change from 2007 to 2012 was a slight increase of 5%. Overall, comparing the 2007 revision to the 2024 revision, 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 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 13th Street below this median.

• Ottar Palayam 12th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 1st Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 11th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 2nd Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 10th 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 13th 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, while 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 and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ottar Palayam 13th Street?

The Sub Registrar Office that covers Ottar Palayam 13th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer purchases a property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ottar Palayam 13th Street?

The current guideline value of Ottar Palayam 13th 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 various revisions in between.

What is the land classification for Ottar Palayam 13th Street?

The land classification for Ottar Palayam 13th Street is Residential Class III Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Ottar Palayam 13th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ottar Palayam 13th Street?

The Sub Registrar Office for Ottar Palayam 13th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.