Guideline Value for OM PARASAKTHI NAGAR

Om Parasakthi Nagar guideline value

The current guideline value of Om Parasakthi Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Om Parasakthi Nagar has changed

The guideline value for Om Parasakthi Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, in 2017, it decreased to Rs 536 per sq.ft. The value then rose to Rs 800 per sq.ft in 2023, before reaching the current rate of Rs 880 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% rise. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Om Parasakthi Nagar's current value below this median.

• Pachaiappan Nagar: Rs 1,650 per sq.ft (2024)
• Padmanabhan Nagar: Rs 1,100 per sq.ft (2024)
• Pallavan Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Om Parasakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Parasakthi Nagar?

Om Parasakthi Nagar is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Om Parasakthi Nagar?

The current guideline value of Om Parasakthi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with several revisions in between, including an increase of 10% from 2023 to 2024.

What is the median guideline value in Koladi?

The median guideline value in Koladi is Rs 1,100 per sq.ft, which is above the current value of Om Parasakthi Nagar.

What are the stamp duty and registration fees for property in Om Parasakthi Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Om Parasakthi Nagar?

The Chennai South Joint II Sub Registrar Office handles registrations for Om Parasakthi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.