Guideline Value for OM SARAVANA NAGAR

Om Saravana Nagar guideline value

The current guideline value of Om Saravana Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Palavedu village and falls under the Avadi SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Om Saravana Nagar has changed

The guideline value for Om Saravana Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased to Rs 400 per sq.ft in the 2023 revision, and the latest revision in 2024 has set it at Rs 440 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavedu

In Palavedu, there are 18 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 290 to Rs 1,100 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the guideline value of Om Saravana Nagar.

• Palavedu Main Road: Rs 440 per sq.ft (2024)
• Muthamizh Nagar: Rs 440 per sq.ft (2024)
• Karnan Nagar: Rs 440 per sq.ft (2024)
• Sri Durgai Amman Nagar: Rs 290 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)
• Sri Vga Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Om Saravana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the 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, totaling Rs 39,600. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Saravana Nagar?

The Om Saravana Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Palavedu. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth in the area.

Frequently asked questions

What is the current guideline value of Om Saravana Nagar?

The current guideline value of Om Saravana Nagar 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 to Rs 400 in 2023, and finally to Rs 440 in 2024.

What is the land classification for Om Saravana Nagar?

Om Saravana Nagar is classified as Residential Class I Type - I.

How is the stamp duty calculated for properties in Om Saravana Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800.

Which office handles property registrations for Om Saravana Nagar?

The Avadi Sub Registrar Office handles property registrations for Om Saravana Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.