Guideline Value for OM SAKTHI AVENUE

Om Sakthi Avenue guideline value

The current guideline value of Om Sakthi Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Om Sakthi Avenue has changed

The guideline value for Om Sakthi Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure remained unchanged in the 2017 revision, where it was Rs 335 per sq.ft. The value then increased to Rs 500 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Om Sakthi Avenue is below this median.

• Om Sakthi Nagar Avenue Extn -II: Rs 500 per sq.ft (2024)
• Orchid Villa Nagar: Rs 500 per sq.ft (2024)
• N. K. C. Nagar: Rs 700 per sq.ft (2024)
• Nethaji Nagar: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 1: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 2: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total charges Rs 45,000. It is essential to 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 detailed calculations.

Which Sub Registrar Office covers Om Sakthi Avenue?

The Sub Registrar Office that covers Om Sakthi Avenue 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 Kayirambedu

The guideline value is a crucial factor when buying or selling property in Kayirambedu. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

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

Frequently asked questions

What is the current guideline value of Om Sakthi Avenue?

The current guideline value of Om Sakthi Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in the 2012, 2023, and 2024 revisions. It increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Om Sakthi Avenue?

Om Sakthi Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

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

How is the stamp duty calculated for property in Om Sakthi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft would incur a total stamp duty and registration fee of Rs 45,000.