Guideline Value for OMEGA TOWN 1

Omega Town 1 guideline value

The current guideline value of Omega Town 1 in Kannivakkam village, under the Thiruporur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Omega Town 1 has changed

According to the register, the guideline value for Omega Town 1 has remained unchanged at Rs 1,000 per sq.ft from the 2023 revision to the 2024 revision, reflecting a change of +0%. Prior to this, the register contains no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In the 2024 revision, the guideline value is set at Rs 1,000 per sq.ft, consistent with the previous year's figure. This indicates stability in the guideline value for this street over the last two revisions.

Guideline values in Kannivakkam

In Kannivakkam, there are 32 streets under the Thiruporur SRO that have a 2024 guideline value ranging from Rs 450 to Rs 2,389 per sq.ft, with a median value of Rs 1,050 per sq.ft. Omega Town 1's guideline value is below this median.

• Omega Town 2: Rs 1,000 per sq.ft (2024)
• New Town: Rs 1,100 per sq.ft (2024)
• Lotus Avenue: Rs 1,200 per sq.ft (2024)
• Kural Nagar: Rs 603 per sq.ft (2024)
• Sai Chitra Nagar: Rs 1,100 per sq.ft (2024)
• Sai Enclave: Rs 1,493 per sq.ft (2024)

Stamp duty and registration fee for property in Omega Town 1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is calculated at 7%, which equals Rs 70,000, and the registration fee at 2% amounts to Rs 20,000. Thus, the total cost for stamp duty and registration fees together is Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Omega Town 1?

The Sub Registrar Office covering Omega Town 1 is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as these fees are based on the established guideline value rather than arbitrary figures.

Frequently asked questions

What is the current guideline value of Omega Town 1?

The current guideline value of Omega Town 1 is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Omega Town 1 has remained constant at Rs 1,000 per sq.ft from the 2023 revision to the 2024 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Omega Town 1?

The land classification for Omega Town 1 is Mixed Special Type - I, which categorizes the land based on its intended use and development potential.

What are the stamp duty and registration fees for property in Omega Town 1?

For a property valued at Rs 10,00,000 in Omega Town 1, the stamp duty is Rs 70,000 and the registration fee is Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Omega Town 1 located?

The Sub Registrar Office for Omega Town 1 is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. This office handles the registration of property transactions in the area.