Guideline Value for OM SAKTHI NAGAR (NEAR PDR NAGAR)

Om Sakthi Nagar (Near Pdr Nagar) guideline value

The current guideline value of Om Sakthi Nagar (Near Pdr Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Om Sakthi Nagar (Near Pdr Nagar) has changed

The guideline value for Om Sakthi Nagar has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from 2012 to 2024 indicates a slight increase of 8% in the guideline value.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Om Sakthi Nagar's 2024 figure above this median.

• Om Sakthi Nagar: Rs 2,700 per sq.ft (2024)
• Oragadam Co-Op. Housing Colony: Rs 2,100 per sq.ft (2024)
• Olympic Nagar: Rs 1,600 per sq.ft (2024)
• Old Post Office Road (New Colony): Rs 2,100 per sq.ft (2024)
• Officers Avenue: Rs 2,900 per sq.ft (2024)
• Padavattamman Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Nagar (Near Pdr Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sakthi Nagar (Near Pdr Nagar)?

The Sub Registrar Office that covers Om Sakthi Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the authorities will assess either the guideline value or the sale price, depending on which is higher, to calculate the stamp duty and registration fees. This ensures that the transaction is aligned with the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar (Near Pdr Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Om Sakthi Nagar?

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

Where can I find the registration office for Om Sakthi Nagar?

The registration office for Om Sakthi Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Korattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the applicable fees reflect the current market conditions.