Guideline Value for OM Sakthi nagar 2nd cross st

OM Sakthi nagar 2nd cross st guideline value

The current guideline value of OM Sakthi nagar 2nd cross st is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of OM Sakthi nagar 2nd cross st has changed

Looking at the revisions, the guideline value for OM Sakthi nagar 2nd cross st has seen several changes over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 1,650 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of OM Sakthi nagar 2nd cross st.

• OM Sakthi nagar 1st cross st: Rs 1,650 per sq.ft (2024)
• OM Sakthi nagar 3rd cross st: Rs 1,650 per sq.ft (2024)
• Nisha Avenue Extention-1: Rs 3,520 per sq.ft (2024)
• Nisha Avenue: Rs 3,300 per sq.ft (2024)
• New Plot Extension Road: Rs 1,100 per sq.ft (2024)
• New Plot Division: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in OM Sakthi nagar 2nd cross st

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers OM Sakthi nagar 2nd cross st?

The Sub Registrar Office that covers OM Sakthi nagar 2nd cross st is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in maintaining a standard across the real estate market, making it easier for buyers and sellers to understand their financial obligations.

Frequently asked questions

What is the current guideline value of OM Sakthi nagar 2nd cross st?

The current guideline value of OM Sakthi nagar 2nd cross st is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current value for OM Sakthi nagar 2nd cross st.

What fees are associated with purchasing property in OM Sakthi nagar 2nd cross st?

When purchasing property, the total stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a 1,000 sq.ft plot, these fees total Rs 1,48,500.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for OM Sakthi nagar 2nd cross st is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.