Guideline Value for OM SAKTHI NAGAR

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Vellaputhoor village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of Om Sakthi Nagar has changed

Over the years, the guideline value of Om Sakthi Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. However, this was followed by a significant increase to Rs 100 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 103 per sq.ft, marking a 3% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and overall, from 2012 to 2024, there has been a 3% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vellaputhoor

In Vellaputhoor, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 103 per sq.ft. The median value is Rs 103 per sq.ft, which is the same as the guideline value for Om Sakthi Nagar.

• Kamatchi Garden: Rs 103 per sq.ft (2024)
• Jeeni Nagar Fam: Rs 103 per sq.ft (2024)
• Jeeni Nagar: Rs 103 per sq.ft (2024)
• Sun City Varadharajan Nagar: Rs 100 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 103 per sq.ft (2024)
• A1-Metro City: Rs 103 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 rate of Rs 103 per sq.ft, the guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, resulting in a total of Rs 9,270. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sakthi Nagar?

Om Sakthi Nagar falls under 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 Vellaputhoor

The guideline value is a crucial factor in property transactions in Vellaputhoor, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on official valuations.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The guideline value is regularly updated, and staying informed about these changes can help in making better decisions during property dealings.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Om Sakthi Nagar?

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

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

The registration office covering Om Sakthi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Om Sakthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can amount to Rs 9,270.