Guideline Value for OM Sakthi nagar 3rd cross st

OM Sakthi nagar 3rd cross st guideline value

The current guideline value of OM Sakthi nagar 3rd cross st is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of OM Sakthi nagar 3rd cross st has changed

The guideline value for OM Sakthi nagar 3rd cross st has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,500 per sq.ft, which then rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of OM Sakthi nagar 3rd cross st.

• OM Sakthi nagar 2nd cross st: Rs 1,650 per sq.ft (2024)
• OM Sakthi nagar 1st 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 3rd 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, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and 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 3rd cross st?

The Sub Registrar Office that covers OM Sakthi nagar 3rd 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 crucial factor in the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of OM Sakthi nagar 3rd cross st?

The current guideline value of OM Sakthi nagar 3rd 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for OM Sakthi nagar 3rd cross st?

The land classification for OM Sakthi nagar 3rd cross st is Residential Class I Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for OM Sakthi nagar 3rd cross st is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.