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 Sattamangalam 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 earliest recorded figure is from 2012, which was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. However, the value saw a significant increase to Rs 400 per sq.ft in 2023, and then further increased to the current Rs 440 per sq.ft in 2024, marking a 10% rise from the previous year.

Between 2012 and 2017, there was a decrease of 33%. From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for Om Sakthi Street for the years 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Om Sakthi Street (Ward -15) is below this median.

• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Osiya Nagar: Rs 990 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)

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 would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. 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 more details.

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

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

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value affects the calculation of stamp duty and registration fees during the registration process.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Conversely, if the sale price is lower, the stamp duty will be based on the guideline value.

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 increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 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.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at the current guideline value of 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, totaling Rs 39,600.

Which office handles registrations for Om Sakthi Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Om Sakthi Street (Ward -15), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.