Guideline Value for PARTHA SARATHY NAGAR-PHASE-I

Partha Sarathy Nagar-Phase-I guideline value

The current guideline value of Partha Sarathy Nagar-Phase-I is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Othppei village and falls under the Oothukkottai SRO. The land classification is Residential Class II Type - I.

How the guideline value of Partha Sarathy Nagar-Phase-I has changed

The guideline value for Partha Sarathy Nagar-Phase-I has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained at Rs 100 per sq.ft, indicating no net change over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Othppei

In addition to Partha Sarathy Nagar-Phase-I, there are other streets in Othppei under the Oothukkottai SRO. The guideline value for these streets is as follows:

• Partha Sarathy Nagar-Phase-II: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Partha Sarathy Nagar-Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Partha Sarathy Nagar-Phase-I?

The Sub Registrar Office that covers Partha Sarathy Nagar-Phase-I is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Othppei. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Partha Sarathy Nagar-Phase-I?

The current guideline value of Partha Sarathy Nagar-Phase-I is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is 0%.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I approach for registration?

The Oothukkottai Sub Registrar Office covers Partha Sarathy Nagar-Phase-I. It is located near the government hospital in Uthukottai, Chennai 602026.

Are there other streets in Othppei with the same guideline value?

Yes, Partha Sarathy Nagar-Phase-II also has a guideline value of Rs 100 per sq.ft as of 2024. This shows consistency in the valuation across these areas.