Guideline Value for Shadi Mahal Othavadai

Shadi Mahal Othavadai guideline value

The current guideline value of Shadi Mahal Othavadai is Rs 5,500 per sq.ft. This property is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Shadi Mahal Othavadai has changed

The guideline value for Shadi Mahal Othavadai has seen several revisions over the years. In 2002, the guideline value was Rs 1,010 per sq.ft. This increased to Rs 1,108 per sq.ft in 2003, marking a rise of 10%. The value then saw a modest increase to Rs 1,145 per sq.ft in 2007, which was a 3% increase. A significant jump occurred in 2012, where the value rose to Rs 5,000 per sq.ft, reflecting a 337% increase. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 445%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Shadi Mahal Othavadai's 2024 figure below this median.

• Sheik Dawood Street: Rs 7,700 per sq.ft (2024)
• Sheik Gaja Street: Rs 5,500 per sq.ft (2024)
• Sherfuddin Garden 1st Lane: Rs 6,600 per sq.ft (2024)
• Sherfuddin Garden 2nd Lane: Rs 8,800 per sq.ft (2024)
• Sherfuddin Garden Blind Lane: Rs 8,800 per sq.ft (2024)
• Singa Perumal Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Shadi Mahal Othavadai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shadi Mahal Othavadai?

The Sub Registrar Office that covers Shadi Mahal Othavadai is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Shadi Mahal Othavadai?

The current guideline value of Shadi Mahal Othavadai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,010 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 445% over this period.

What are the stamp duty and registration fees for property in Shadi Mahal Othavadai?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers Shadi Mahal Othavadai?

The Triplicane Sub Registrar Office covers Shadi Mahal Othavadai, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions in Triplicane.