Guideline Value for OM SAKTHI KALIKAMMBAL CO-OP NAGAR

Om Sakthi Kalikammbal Co-Op Nagar guideline value

The current guideline value of Om Sakthi Kalikammbal Co-Op Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Om Sakthi Kalikammbal Co-Op Nagar has changed

The guideline value for Om Sakthi Kalikammbal Co-Op Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values were not recorded for the earlier years mentioned. The consistent increase in the guideline value reflects changes in the local real estate landscape, culminating in the current rate.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Om Sakthi Kalikammbal Co-Op Nagar above this median with its current value of Rs 2,200 per sq.ft.

• Ommakulam medu, MRH Road (Ward-11): Rs 1,300 per sq.ft (2024)
• Ommakulam Medu: Rs 1,300 per sq.ft (2024)
• Otraivadai St (Ward No.30): Rs 1,600 per sq.ft (2024)
• Ottraivadai st (Ward No.2): Rs 1,600 per sq.ft (2024)
• Ottravadai Lane: Rs 1,300 per sq.ft (2024)
• Ottravadai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Kalikammbal Co-Op Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Om Sakthi Kalikammbal Co-Op Nagar?

The Sub Registrar Office that covers Om Sakthi Kalikammbal Co-Op Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during property registration in Madhavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the transaction must be registered at the local Sub Registrar Office, where the guideline value is considered to ensure compliance with legal requirements and to calculate the necessary fees.

Frequently asked questions

What is the current guideline value of Om Sakthi Kalikammbal Co-Op Nagar?

The current guideline value of Om Sakthi Kalikammbal Co-Op Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures recorded for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Om Sakthi Kalikammbal Co-Op Nagar?

Om Sakthi Kalikammbal Co-Op Nagar is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,98,000.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Om Sakthi Kalikammbal Co-Op Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your specific SRO by visiting the relevant link.