Guideline Value for OM SAI NAGAR PHASE- II

Om Sai Nagar Phase- II guideline value

The current guideline value of Om Sai Nagar Phase- II 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 Phase- II has changed

In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This figure remained unchanged in the subsequent revisions of 2002, 2003, 2007, and 2012, as the register has no figure for this street in those years. From 2017 to 2023, the value increased by 49%, reaching Rs 400 per sq.ft, which was maintained in the 2024 revision, showing no change from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 49%. The current value of Rs 400 per sq.ft aligns with the median guideline value for 44 streets in Palur-A, which ranges from Rs 150 to Rs 600 per sq.ft.

Guideline values in Palur-A

In Palur-A, the guideline values for various streets under the Chengleput Joint II SRO range from Rs 150 to Rs 600 per sq.ft, with the median being Rs 400 per sq.ft. Om Sai Nagar Phase- II's 2024 figure matches this median.

• Om Sai Nagar: 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 Phase- II

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, making a total of Rs 36,000. Duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sai Nagar Phase- II?

The Sub Registrar Office covering Om Sai Nagar Phase- II 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 Palur-A

The guideline value plays a crucial role during the registration of property transactions in Palur-A. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When buying or selling property, the guideline value helps to determine the official value of the property for taxation purposes. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Om Sai Nagar Phase- II?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, reflecting a 49% increase overall during this period.

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

Other streets in Palur-A include Olive Avenue and M.S.R.Nagar, both at Rs 400 per sq.ft, while N.G.O.Nagar, Rail Garden, and Rail Nagar have values of Rs 600 per sq.ft.

How is stamp duty calculated in Om Sai Nagar Phase- II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 4,00,000, the stamp duty would be Rs 28,000.

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

The Sub Registrar Office for Om Sai Nagar Phase- II is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.