Guideline Value for Ottraivadai st ( Ward No.2 )

Ottraivadai st ( Ward No.2 ) guideline value

The current guideline value of Ottraivadai st ( Ward No.2 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Ottraivadai st ( Ward No.2 ) has changed

Looking at the revisions, the guideline value for Ottraivadai st ( Ward No.2 ) was Rs 1,500 per sq.ft in the 2012 revision and remained the same until the 2023 revision. In 2023, the value was again Rs 1,500 per sq.ft, but in the 2024 revision, it increased to Rs 1,600 per sq.ft, reflecting a change of +7% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +7%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current figure for Ottraivadai st ( Ward No.2 ).

• Ottravadai Lane: Rs 1,300 per sq.ft (2024)
• Ottravadai Street: Rs 1,600 per sq.ft (2024)
• Pachaiammal Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Otraivadai St ( Ward No.30 ): Rs 1,600 per sq.ft (2024)
• Pachaiappan Colony (Ward No.29): Rs 1,300 per sq.ft (2024)
• Pachaiappan Nagar (Ward No.29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ottraivadai st ( Ward No.2 )

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ottraivadai st ( Ward No.2 )?

The Sub Registrar Office that covers Ottraivadai st ( Ward No.2 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the actual sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ottraivadai st ( Ward No.2 )?

The current guideline value of Ottraivadai st ( Ward No.2 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with no change noted from 2012 to 2023.

What is the classification of land in Ottraivadai st ( Ward No.2 )?

Ottraivadai st ( Ward No.2 ) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ottraivadai st ( Ward No.2 )?

The Sub Registrar Office for Ottraivadai st ( Ward No.2 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Ottraivadai st ( Ward No.2 )?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would be Rs 1,44,000.