Guideline Value for Ottraivadai Street

Ottraivadai Street guideline value

The current guideline value of Ottraivadai Street in Sembiam village, under the Sembiam SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Ottraivadai Street has changed

The guideline value for Ottraivadai Street has seen significant changes over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 307 per sq.ft in 2003. The following revisions showed a substantial rise, with the value reaching Rs 700 per sq.ft in 2007, followed by a notable increase to Rs 1,600 per sq.ft in 2012. However, this value decreased to Rs 1,072 per sq.ft in 2017. In 2023, the guideline value rose to Rs 1,600 per sq.ft, and the most recent revision in 2024 set it at Rs 1,700 per sq.ft.

The changes between these revisions indicate a +6% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +129% increase from 2007 to 2012, a +128% increase from 2003 to 2007, and an +8% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +501%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Ottraivadai Street is below this median.

• Ottraivadai Street / 40ft Road Anmai Don Bosco School: Rs 2,700 per sq.ft (2024)
• Pallavan Street: Rs 2,700 per sq.ft (2024)
• Pandiyan Street: Rs 2,700 per sq.ft (2024)
• Paper Mills Road: Rs 7,100 per sq.ft (2024)
• Pavazha Kalyana Sundara Mudaliyar Road: Rs 1,900 per sq.ft (2024)
• Periya Palayathamman Koil Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ottraivadai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ottraivadai Street?

The Sub Registrar Office that covers Ottraivadai Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sembiam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When registering a property, buyers must consider the guideline value as it is the basis for calculating various fees. This value is essential for ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ottraivadai Street?

The current guideline value of Ottraivadai Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 283 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of +501% over this period.

What is the land classification for Ottraivadai Street?

Ottraivadai Street is classified under Residential Class II Type - II land classification.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using our stamp duty and registration fee calculator.

Which office handles registrations for Ottraivadai Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Ottraivadai Street.