Guideline Value for O.M.R IT Residency

O.M.R IT Residency guideline value

The current guideline value of O.M.R IT Residency is Rs 1,300 per sq.ft. This property is located in Melakottyur village under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of O.M.R IT Residency has changed

The guideline value for O.M.R IT Residency has seen several revisions over the years. In 2012, the value was set at Rs 1,300 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 871 per sq.ft. However, in the latest 2023 revision, the value increased significantly to Rs 1,300 per sq.ft again.

From 2012 to 2017, there was a decrease of 33%. Conversely, the change from 2017 to 2023 shows an increase of 49%. Overall, from 2012 to 2023, the guideline value remains unchanged at Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific village figures available for Melakottyur. O.M.R IT Residency is part of the properties under the Gooduvancheri SRO.

Stamp duty and registration fee for property in O.M.R IT Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for stamp duty and registration would be Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers O.M.R IT Residency?

The O.M.R IT Residency is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Melakottyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the correct duties are applied. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of O.M.R IT Residency?

The current guideline value of O.M.R IT Residency is Rs 1,300 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023. The overall change from 2012 to 2023 shows no increase.

What is the stamp duty rate for properties in O.M.R IT Residency?

The stamp duty rate for properties in O.M.R IT Residency is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand that the duty is charged based on the higher of the guideline value and the sale price.