Guideline Value for O.A.K. NAGAR ANNEXE

O.A.K. Nagar Annexe guideline value

The current guideline value of O.A.K. Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village under the Kunrathur SRO, and the land classification is Residential Special Type - I.

How the guideline value of O.A.K. Nagar Annexe has changed

The guideline value for O.A.K. Nagar Annexe has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, representing a 49% increase. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking 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 there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, indicating that O.A.K. Nagar Annexe's 2024 figure is above this median.

• Oa Dheen Nagar: Rs 2,200 per sq.ft (2024)
• Om. Ganapathy Nagar: Rs 1,540 per sq.ft (2024)
• Om. Sakthi Nagar: Rs 1,870 per sq.ft (2024)
• Om. Sakthi Nagar Annexe: Rs 1,870 per sq.ft (2024)
• Nooruthin Nagar: Rs 2,090 per sq.ft (2024)
• Othavadai Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in O.A.K. Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers O.A.K. Nagar Annexe?

The Sub Registrar Office that covers O.A.K. Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when buying or selling property in Mangadu -A, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a benchmark for valuation, and it is essential for both parties to be aware of these figures to avoid any discrepancies in the transaction.

Frequently asked questions

What is the current guideline value of O.A.K. Nagar Annexe?

The current guideline value of O.A.K. Nagar Annexe is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over this period.

What is the land classification for O.A.K. Nagar Annexe?

The land classification for O.A.K. Nagar Annexe is Residential Special Type - I.

Which office handles registrations in this area?

The Kunrathur Sub Registrar Office handles registrations for O.A.K. Nagar Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in O.A.K. Nagar Annexe?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.