Guideline Value for OM SAKTHI SAI NAGAR

Om Sakthi Sai Nagar guideline value

The current guideline value of Om Sakthi Sai Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kurumpirai village under the Salavakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Om Sakthi Sai Nagar has changed

Over the years, the guideline value for Om Sakthi Sai Nagar has undergone several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision saw a decrease to Rs 67 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, the overall change from the 2012 revision to the 2024 revision shows no increase, maintaining the guideline value at Rs 100 per sq.ft.

Guideline values in Kurumpirai

In Kurumpirai village, there are nine streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 134 per sq.ft. The median value for these streets is Rs 100 per sq.ft, which is the same as the 2024 figure for Om Sakthi Sai Nagar.

• Nehru Nagar: Rs 100 per sq.ft (2024)
• Rainbow Nagar: Rs 102 per sq.ft (2024)
• Rainbow Nagar Phase-1: Rs 102 per sq.ft (2024)
• Senthamizh Nagar: Rs 100 per sq.ft (2024)
• Iswaryam Nagar: Rs 100 per sq.ft (2024)
• Imanuvel Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total charges to Rs 9,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Om Sakthi Sai Nagar?

The Sub Registrar Office that covers Om Sakthi Sai Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kurumpirai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps establish a fair price for the property, ensuring that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Om Sakthi Sai Nagar?

The current guideline value of Om Sakthi Sai Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, with a decrease to Rs 67 per sq.ft in 2017 and no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification of Om Sakthi Sai Nagar?

Om Sakthi Sai Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Salavakkam Sub Registrar Office, which covers Om Sakthi Sai Nagar, is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7% and a registration fee of Rs 2,000 at 2%.