Guideline Value for OM SAKTHI NAGAR

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar is Rs 120 per sq.ft, effective from 1 July 2024. This locality is situated in Eesoor village under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Om Sakthi Nagar has changed

Looking back at the revisions, the guideline value for Om Sakthi Nagar was Rs 120 per sq.ft in the 2023 revision, which remains unchanged in the 2024 revision. Prior to that, in the 2017 revision, the value was Rs 80 per sq.ft, indicating a 50% increase over the six-year period from 2017 to 2023.

In the 2012 revision, the guideline value was Rs 120 per sq.ft, which means there was a decrease of 33% to Rs 80 per sq.ft in 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 120 per sq.ft. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Eesoor

In Eesoor, there are five streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 120 to Rs 250 per sq.ft, with a median value of Rs 175 per sq.ft. The guideline value for Om Sakthi Nagar is below this median.

• Nemichand Nagar: Rs 120 per sq.ft (2024)
• Sakthi Avenue: Rs 175 per sq.ft (2024)
• Green Wood Avenue: Rs 175 per sq.ft (2024)
• Sri Sathyasai Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value would be Rs 1,20,000. The stamp duty at 7% would amount to Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total cost for these fees to Rs 10,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Om Sakthi Nagar?

The Sub Registrar Office that covers Om Sakthi Nagar 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 further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Eesoor. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 120 per sq.ft from 2012 to 2024, but it increased from Rs 80 per sq.ft in 2017 to Rs 120 per sq.ft in 2023, marking a 50% increase over that period.

What is the land classification of Om Sakthi Nagar?

Om Sakthi Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 1,20,000, the stamp duty would be Rs 8,400 and the registration fee would be Rs 2,400, totaling Rs 10,800. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Om Sakthi Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Om Sakthi Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.