Guideline Value for OM SAKTHI AVENUE

Om Sakthi Avenue guideline value

The current guideline value of Om Sakthi Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Madurandakam SRO, classified as Commercial Class I Type - I.

How the guideline value of Om Sakthi Avenue has changed

Over the years, the guideline value of Om Sakthi Avenue has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 469 per sq.ft. The subsequent 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision raised it further to Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, placing Om Sakthi Avenue's 2024 figure above that median.

• Old Mambakkam Sunambedu Road: Rs 330 per sq.ft (2024)
• Old Mambakkam Ora Veedhi Street: Rs 330 per sq.ft (2024)
• Old Mambakkam Old Brammanar Street, Jayanagar: Rs 330 per sq.ft (2024)
• Old Mambakkam Gandhi Street: Rs 385 per sq.ft (2024)
• Old Mambakkam Brammanar Street, New Colony: Rs 330 per sq.ft (2024)
• New Mambakkam Sunambedu Road: Rs 385 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Avenue?

The Sub Registrar Office that covers Om Sakthi Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Om Sakthi Avenue?

The current guideline value of Om Sakthi Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Om Sakthi Avenue?

Om Sakthi Avenue is classified as Commercial Class I Type - I, indicating its intended use for commercial activities.

What are the stamp duty and registration fees for property in Om Sakthi Avenue?

For a 1,000 sq.ft plot, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are based on the guideline value of Rs 7,70,000.

Where is the Sub Registrar Office for Om Sakthi Avenue located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.