Guideline Value for OM SHAKTHI NAGAR

Om Shakthi Nagar guideline value

The current guideline value of Om Shakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village and falls under the Ponneri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Om Shakthi Nagar has changed

The guideline value for Om Shakthi Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which was then increased to Rs 500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value during those years are not available for reference.

Guideline values in Minjur

In Minjur, there are a total of 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, which is equal to the current value of Om Shakthi Nagar.

• Pachaiyamman Kovil Road: Rs 550 per sq.ft (2024)
• Pachaiyamman Nagar: Rs 880 per sq.ft (2024)
• Pachaiyamman Nagar Main Road: Rs 880 per sq.ft (2024)
• North Street: Rs 550 per sq.ft (2024)
• New Padmavathy City: Rs 550 per sq.ft (2024)
• Pappa Palayam: Rs 550 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 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, and the registration fee at 2% would be Rs 11,000, leading to a total of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees that need to be paid. When buying or selling property in Minjur, the guideline value is used to assess the official value of the property for registration purposes.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that all financial obligations are met during the registration process. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Om Shakthi Nagar?

The current guideline value of Om Shakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What are the other streets with guideline values in Minjur?

Other streets in Minjur include Pachaiyamman Kovil Road, Pachaiyamman Nagar, Pachaiyamman Nagar Main Road, North Street, New Padmavathy City, and Pappa Palayam, with varying guideline values.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total fees can amount to Rs 49,500.

Where is the Sub Registrar Office for Om Shakthi Nagar located?

The Sub Registrar Office covering Om Shakthi Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.