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 550 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as 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. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision and finally rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 represented a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Om Sakthi Street's 2024 figure below that median.

• Om Sakthi Street (Per): Rs 661 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, 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 details.

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

The guideline value plays a crucial role during property registration in Peramanoor. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the Registration Department and can vary based on the street and property classification.

When a property is registered, the relevant fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Om Sakthi Street?

Om Sakthi Street is classified as Residential Class II Type - II under the Chengleput Joint II SRO.

How is the 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, the stamp duty for a property valued at Rs 5,50,000 would be Rs 38,500 at a rate of 7%.

Where is the Sub Registrar Office for Om Sakthi Street located?

The Sub Registrar Office for Om Sakthi Street (Ward -15) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.