Guideline Value for OM SAKTHI NAGAR

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

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 earliest recorded figure is from 2007, where the guideline value was Rs 356 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 462% rise. However, the value dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,160 per sq.ft as of the 2024 revision, which is an 8% increase from the previous year.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 507%, highlighting significant changes over the years.

Guideline values in Zaminpallavaram

Zaminpallavaram village features a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Om Sakthi Nagar's 2024 figure below this median.

• Omanathapillai Avenue P.t.1: Rs 2,100 per sq.ft (2024)
• Odai Street: Rs 3,300 per sq.ft (2024)
• Pachaiamman Koil 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Pachaiamman Koil Colony Cross Street: Rs 2,160 per sq.ft (2024)
• Pachaiamman Koil Colony Eri Ora Street: Rs 2,160 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 2,750 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 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty is charged at 7%, resulting in Rs 1,51,200, while the registration fee at 2% amounts to Rs 43,200. Together, the total cost for stamp duty and registration fee is Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Nagar?

The Sub Registrar Office that covers Om Sakthi Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

For further assistance, you can find your SRO.

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

The guideline value is a critical factor in the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are conducted at fair values as per government regulations.

When buying or selling property, the guideline value directly influences the stamp duty and registration fees payable. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during the property registration process.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 356 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 507% over the years.

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

The stamp duty for property in Om Sakthi Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees is Rs 1,94,400.

Which Sub Registrar Office handles transactions for Om Sakthi Nagar?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044, handles transactions for Om Sakthi Nagar.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, with Om Sakthi Nagar's value being below this median at Rs 2,160 per sq.ft.