Guideline Value for OM SHAKTHI NAGAR

Om Shakthi Nagar guideline value

The current guideline value of Om Shakthi Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under Aathupakkam village and is registered with the Arani_Tiruvallur SRO. The land classification for this locality is Residential Class III Type - I.

How the guideline value of Om Shakthi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 100 per sq.ft. This figure increased by 50% in the following 2023 revision, bringing the value to Rs 150 per sq.ft. The 2024 revision maintained this value at Rs 150 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 50%. The consistency in the values from 2023 to 2024 indicates stability in the guideline value for Om Shakthi Nagar during this period.

Guideline values in Aathupakkam

Om Shakthi Nagar is part of the Aathupakkam locality, which has other streets with their own guideline values. Below are the other streets in Aathupakkam:

• Bhagavan Baba City Chelliyamman Nagar Part-1: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Om Shakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, resulting in a total of Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Shakthi Nagar?

The Sub Registrar Office that covers Om Shakthi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, ponneri(tk), thiruvallur(dt) - 601 101, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Aathupakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. Understanding this value helps in budgeting for additional expenses associated with property registration.

Frequently asked questions

What is the current guideline value of Om Shakthi Nagar?

The current guideline value of Om Shakthi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2023 to 2024. It increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, marking a 50% increase overall from 2017 to 2024.

What is the registration office for Om Shakthi Nagar?

The registration office for Om Shakthi Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, ponneri(tk), thiruvallur(dt) - 601 101, Chennai registration zone.

How is stamp duty calculated for properties in Om Shakthi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,50,000, resulting in a stamp duty of Rs 10,500.

Are there other streets with guideline values in Aathupakkam?

Yes, there are other streets in Aathupakkam with their own guideline values. For instance, Bhagavan Baba City Chelliyamman Nagar Part-1 has a guideline value of Rs 100 per sq.ft as of 2024.