Guideline Value for OM SAKTHI NAGAR

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar is Rs 1,590 per sq.ft, effective from 1 July 2024. This area is located in Nadukuthagai village and falls under the Avadi Sub Registrar Office (SRO). The land classification for this locality is Residential Special Type - I.

How the guideline value of Om Sakthi Nagar has changed

The guideline value for Om Sakthi Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 971 per sq.ft in 2017. The value continued to rise to Rs 1,450 per sq.ft in 2023 and reached Rs 1,590 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, the changes were notable: from 2007 to 2012, there was a substantial increase of 700%, followed by a decrease of 19% from 2012 to 2017. The value then surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 960%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nadukuthagai

Nadukuthagai village features 35 streets under the Avadi SRO, with guideline values in 2024 ranging from Rs 330 to Rs 1,980 per sq.ft. The median value for these streets is Rs 880 per sq.ft, making Om Sakthi Nagar's current value above this median.

• Om Nest: Rs 1,590 per sq.ft (2024)
• Periyapalayam High Road: Rs 600 per sq.ft (2024)
• Ponniamman Nagar: Rs 330 per sq.ft (2024)
• Murali Nagar Annex: Rs 600 per sq.ft (2024)
• Murali Nagar: Rs 600 per sq.ft (2024)
• Prakash Nagar: Rs 1,590 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 1,590 per sq.ft, the total guideline value amounts to Rs 15,90,000. The stamp duty at 7% would be Rs 1,11,300, and the registration fee at 2% would be Rs 31,800, bringing the total to Rs 1,43,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sakthi Nagar?

The Om Sakthi Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nadukuthagai. 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 buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 1,590 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,590 per sq.ft in 2024, showing an overall increase of 960% over the years.

What is the land classification for Om Sakthi Nagar?

The land classification for Om Sakthi Nagar is Residential Special Type - I, indicating its designation for residential purposes.

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

The Avadi Sub Registrar Office covers Om Sakthi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

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

Stamp duty for properties in Om Sakthi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.