Guideline Value for Ottravadai Street (ward 6)

Ottravadai Street (ward 6) guideline value

The current guideline value of Ottravadai Street (ward 6) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolapakkam village and falls under the Pammal SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Ottravadai Street (ward 6) has changed

In the 2017 revision, the guideline value for Ottravadai Street was set at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for Ottravadai Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Ottravadai Street's 2024 figure below that median.

• Ottravadai Street (ward 7): Rs 1,650 per sq.ft (2024)
• Padmavathi Nagar: Rs 2,750 per sq.ft (2024)
• Nutech Inscape: Rs 3,080 per sq.ft (2024)
• Pallavaram Main Road (ward 6): Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Pattammal Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ottravadai Street (ward 6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Ottravadai Street (ward 6)?

The Sub Registrar Office that covers Ottravadai Street (ward 6) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolapakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ottravadai Street (ward 6)?

The current guideline value of Ottravadai Street (ward 6) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024. This represents a total increase of 64% over the seven-year period.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Ottravadai Street (ward 6), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Ottravadai Street (ward 6)?

Ottravadai Street (ward 6) is classified as Residential Class IV Type - I, indicating its use for residential purposes.