Guideline Value for OHM SHAKTHI NAGAR

Ohm Shakthi Nagar guideline value

The current guideline value of Ohm Shakthi Nagar is Rs 1,500 per sq.ft. This area is located in Vinjiyampakkam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Ohm Shakthi Nagar has changed

The guideline value for Ohm Shakthi Nagar has experienced several revisions over the years. The earliest recorded figure is from 2012, which was Rs 700 per sq.ft. This value remained unchanged in the subsequent revision in 2017, where it was Rs 469 per sq.ft, marking a decrease of 33%. In 2023, the guideline value rose to Rs 700 per sq.ft, and in 2024, it saw a significant increase to Rs 1,500 per sq.ft, reflecting a 114% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 114%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vinjiyampakkam

In Vinjiyampakkam, there are seven streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,500 to Rs 2,300 per sq.ft. The guideline value for Ohm Shakthi Nagar is equal to the median of Rs 1,500 per sq.ft.

• Pushpha Thanda Nagar: Rs 2,000 per sq.ft (2024)
• Pushpha Thanda Nagar Extn: Rs 2,000 per sq.ft (2024)
• Singai Nagar: Rs 1,500 per sq.ft (2024)
• V.I.P.Nagar: Rs 1,500 per sq.ft (2024)
• V.I.P. Nagar Extension: Rs 1,500 per sq.ft (2024)
• ஸ்ரீ விக்னேஷ் குமார் நகர்: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ohm Shakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, resulting in a total of Rs 1,35,000. 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 Ohm Shakthi Nagar?

The Sub Registrar Office that covers Ohm Shakthi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vinjiyampakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the current market conditions.

When a property is sold, the guideline value is used to determine the minimum value for which the property can be registered. This helps maintain transparency and fairness in property transactions, ensuring that the government receives appropriate revenue from these transactions.

Frequently asked questions

What is the current guideline value of Ohm Shakthi Nagar?

The current guideline value of Ohm Shakthi Nagar is Rs 1,500 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 114% over this period.

What is the land classification of Ohm Shakthi Nagar?

Ohm Shakthi Nagar is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.