Guideline Value for OM SAKTHI STREET (PER)

Om Sakthi Street (Per) guideline value

The current guideline value of Om Sakthi Street (Per) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Om Sakthi Street (Per) has changed

The guideline value for Om Sakthi Street (Per) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The value then increased significantly in the 2023 revision to Rs 600 per sq.ft, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The most notable change was between the 2017 and 2023 revisions, where the value increased by 49%. It is important to note that the register has no figures for Om Sakthi Street in the years 2002, 2003, and 2007.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the guideline value of Om Sakthi Street (Per) below that median.

• Om Sakthi Street (Ward -15): Rs 660 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Paavendar Nagar: Rs 1,980 per sq.ft (2024)
• Paavendar Steet (Ward -6): Rs 1,980 per sq.ft (2024)
• Paaventhar Street (Ward -5): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Street (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Om Sakthi Street (Per)?

The Sub Registrar Office that covers Om Sakthi Street (Per) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during property registration.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Om Sakthi Street (Per)?

The current guideline value of Om Sakthi Street (Per) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Om Sakthi Street (Per)?

For a 1,000 sq.ft plot, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400 based on the guideline value of Rs 6,60,000.

Which office handles the registration for Om Sakthi Street (Per)?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, handles the registration for Om Sakthi Street (Per).

What is the significance of the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees when buying property. It is essential for buyers and sellers to be aware of this value to ensure accurate financial planning during the registration process.