Guideline Value for OM SAI NAGAR

Om Sai Nagar guideline value

The current guideline value of Om Sai Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Palur-A village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Om Sai Nagar has changed

The guideline value for Om Sai Nagar has remained consistent at Rs 400 per sq.ft for both the 2023 and 2024 revisions. Prior to this, the 2017 revision set the value at Rs 268 per sq.ft, marking a 49% increase in value from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. As such, the only recorded revisions are from 2017, 2023, and 2024.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 150 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which aligns with the guideline value for Om Sai Nagar.

• Om Sai Nagar Phase- II: Rs 400 per sq.ft (2024)
• Olive Avenue: Rs 400 per sq.ft (2024)
• N.G.O.Nagar: Rs 600 per sq.ft (2024)
• M.S.R.Nagar: Rs 400 per sq.ft (2024)
• Rail Garden: Rs 600 per sq.ft (2024)
• Rail Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 Sai Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palur-A. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Om Sai Nagar?

The current guideline value of Om Sai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft for both 2023 and 2024. It increased from Rs 268 per sq.ft in 2017, representing a 49% increase over that period.

What are the other streets in Palur-A with guideline values?

Other streets in Palur-A include Om Sai Nagar Phase- II, Olive Avenue, N.G.O.Nagar, M.S.R.Nagar, Rail Garden, and Rail Nagar, with values ranging from Rs 400 to Rs 600 per sq.ft in 2024.

What fees are associated with buying property in Om Sai Nagar?

When buying property in Om Sai Nagar, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Om Sai Nagar?

The Chengleput Joint II Sub Registrar Office covers Om Sai Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.