Guideline Value for Ottar Palayam

Ottar Palayam guideline value

The current guideline value of Ottar Palayam is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Aminjikarai village under the AnnaNagar SRO, classified as Residential Class III Type - II.

How the guideline value of Ottar Palayam has changed

The guideline value for Ottar Palayam has seen significant changes over the years. In 2002, the guideline value was Rs 511 per sq.ft, which increased to Rs 1,100 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,500 per sq.ft in 2012, but it then dropped to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft as of the 2024 revision. Notably, there is no figure available for the year 2003 in the register for this street.

Between the revisions, the changes are as follows: from 2002 to 2007, there was an increase of 115%; from 2007 to 2012, a rise of 218%; however, from 2012 to 2017, the value decreased by 33%. After that, the value increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 644%.

Guideline values in Aminjikarai

Aminjikarai village has a total of 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the current value of Ottar Palayam below the median.

• Orphan School Street: Rs 3,800 per sq.ft (2024)
• North Kasarath Thottam: Rs 3,800 per sq.ft (2024)
• Parameswara nagar: Rs 3,800 per sq.ft (2024)
• Perumal Koil street: Rs 4,400 per sq.ft (2024)
• Perumal Koil Street (Residential): Rs 4,400 per sq.ft (2024)
• Nadhamuni Naidu Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ottar Palayam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ottar Palayam?

The Sub Registrar Office that covers Ottar Palayam is the AnnaNagar 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 Aminjikarai

The guideline value plays a crucial role during property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is a benchmark for the transaction value, and it is essential for calculating the associated costs.

During the registration process, the guideline value ensures that the property is assessed fairly for tax purposes. It is important for both parties to understand how this value affects their financial obligations when completing a real estate transaction.

Frequently asked questions

What is the current guideline value of Ottar Palayam?

The current guideline value of Ottar Palayam is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 511 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 644%.

What are the stamp duty and registration fees for property in Ottar Palayam?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Ottar Palayam?

The AnnaNagar Sub Registrar Office handles property registrations for Ottar Palayam, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Aminjikarai?

The median guideline value for streets in Aminjikarai is Rs 4,400 per sq.ft, with Ottar Palayam's value being below this median.