Guideline Value for OM SAKTHI NAGAR 2ND STREET

Om Sakthi Nagar 2nd Street guideline value

The current guideline value of Om Sakthi Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Om Sakthi Nagar 2nd Street has changed

The guideline value for Om Sakthi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,005 per sq.ft. However, the value saw a significant increase in 2023 to Rs 1,500 per sq.ft, and then it rose again in 2024 to Rs 1,650 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Om Sakthi Nagar 2nd Street's 2024 figure below that median.

• Om Sakthi Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,650 per sq.ft (2024)
• Oodama Nagar: Rs 1,100 per sq.ft (2024)
• Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar: Rs 1,100 per sq.ft (2024)
• Painthamil Nagar: Rs 1,320 per sq.ft (2024)
• Palaniappa Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to 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 accurate calculations.

Which Sub Registrar Office covers Om Sakthi Nagar 2nd Street?

The Sub Registrar Office that covers Om Sakthi Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Om Sakthi Nagar 2nd Street?

The current guideline value for Om Sakthi Nagar 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 showing an increase from Rs 1,500 per sq.ft in 2023. The value has increased significantly from Rs 1,005 per sq.ft in 2017.

What is the land classification for Om Sakthi Nagar 2nd Street?

Om Sakthi Nagar 2nd Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

How does the guideline value compare to other streets in Vanagaram?

In Vanagaram, the guideline values for other streets range from Rs 770 to Rs 5,500 per sq.ft, with Om Sakthi Nagar 2nd Street's value being Rs 1,650 per sq.ft, which is below the median value of Rs 1,660 per sq.ft.

Where can I find the Sub Registrar Office for Om Sakthi Nagar 2nd Street?

The Sub Registrar Office for Om Sakthi Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details through the provided link.