Guideline Value for OM NAMACHIVAYA NAGAR

Om Namachivaya Nagar guideline value

The current guideline value of Om Namachivaya Nagar is Rs 1,254 per sq.ft, effective from 1 July 2024. This street is located in Pillaippakkam-A village, under the Sriperumpudur SRO. The land classification for this area is Mixed Special Type - III.

How the guideline value of Om Namachivaya Nagar has changed

In the 2017 revision, the guideline value was set at Rs 840 per sq.ft. This figure remained unchanged until the 2023 revision, where it was revised to Rs 1,254 per sq.ft. The change from 2017 to 2023 represents an increase of 49%. In the 2024 revision, the guideline value again stands at Rs 1,254 per sq.ft, showing no change from the previous year.

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

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value in this area is Rs 300 per sq.ft, placing Om Namachivaya Nagar's 2024 figure above that median.

• Palla Street: Rs 100 per sq.ft (2024)
• Neelakanda Siva Nagar: Rs 200 per sq.ft (2024)
• Pattukottai Azhagiri Nagar: Rs 300 per sq.ft (2024)
• Peyaridappadatha Manaipirivu: Rs 344 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Raja veedhi: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Om Namachivaya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,254 per sq.ft, the guideline value amounts to Rs 12,54,000. The stamp duty at 7% would be Rs 87,780, and the registration fee at 2% would be Rs 25,080, totaling Rs 1,12,860. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Namachivaya Nagar?

The Sub Registrar Office that covers Om Namachivaya Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Pillaippakkam-A. It determines the minimum value at which properties can be registered and affects the stamp duty and registration fees payable during the sale or purchase of property.

When buying or selling property, it is essential to consider the guideline value as it serves as a benchmark for the transaction. This value helps ensure that the property is registered at a fair price, reflecting the current market conditions as per the guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Om Namachivaya Nagar?

The current guideline value of Om Namachivaya Nagar is Rs 1,254 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 840 per sq.ft in 2017 to Rs 1,254 per sq.ft in 2023, representing a 49% increase. The value remained the same in the 2024 revision.

What is the median guideline value in Pillaippakkam-A?

The median guideline value in Pillaippakkam-A is Rs 300 per sq.ft. Om Namachivaya Nagar's 2024 figure of Rs 1,254 per sq.ft is above this median.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 12,54,000, the stamp duty is Rs 87,780, and the registration fee is Rs 25,080, totaling Rs 1,12,860. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Om Namachivaya Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Om Namachivaya Nagar. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.