Guideline Value for OM SAKTHI STREET (WARD -15)

Om Sakthi Street (Ward -15) guideline value

The current guideline value of Om Sakthi Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Om Sakthi Street (Ward -15) has changed

The guideline value for Om Sakthi Street has undergone several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft. This figure decreased to Rs 268 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 400 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Om Sakthi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which means that the guideline value for Om Sakthi Street is below this median.

• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 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)
• Paaventhar Street (Ward -7): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Street (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Street (Ward -15)?

The Sub Registrar Office covering Om Sakthi Street (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is particularly important as it influences the overall costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Om Sakthi Street (Ward -15)?

The current guideline value of Om Sakthi Street (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Om Sakthi Street?

Om Sakthi Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 440 per sq.ft, the total guideline value would lead to a stamp duty of Rs 30,800.