Guideline Value for OM VELAYUTHAM NAGAR

Om Velayutham Nagar guideline value

The current guideline value of Om Velayutham Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Pammathukulam village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Om Velayutham Nagar has changed

The guideline value for Om Velayutham Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the current 2024 value, there has been a 10% increase.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Om Velayutham Nagar is above this median.

• Om Ganapathy Nagar: Rs 820 per sq.ft (2024)
• N.T.R. Land: Rs 660 per sq.ft (2024)
• New Valli Nagar: Rs 550 per sq.ft (2024)
• Pari Nagar: Rs 660 per sq.ft (2024)
• Perumal Koil Street: Rs 330 per sq.ft (2024)
• Nalli Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Om Velayutham Nagar

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Om Velayutham Nagar?

The Sub Registrar Office that covers Om Velayutham Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Pammathukulam, the guideline value will be referenced to calculate applicable fees and taxes.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om Velayutham Nagar?

The current guideline value of Om Velayutham Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Om Velayutham Nagar?

Om Velayutham Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Om Velayutham Nagar?

The Sub Registrar Office for Om Velayutham Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property with a guideline value of Rs 6,60,000, the stamp duty at 7% would amount to Rs 46,200.