Guideline Value for OMEGA TOWN 2

Omega Town 2 guideline value

The current guideline value of Omega Town 2 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 2 has changed

According to the guideline value register, there are no figures available for Omega Town 2 for the years 2002, 2003, 2007, 2012, and 2017. The revisions that do have figures are from 2023 and 2024, both showing a guideline value of Rs 1,000 per sq.ft, indicating no change between these two years.

The 2023 revision maintained the guideline value at Rs 1,000 per sq.ft, and the 2024 revision also reflects the same amount, resulting in a change of +0% from the previous year.

Guideline values in Kannivakkam

Kannivakkam has 32 streets under the Thiruporur SRO that carry 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 2's 2024 figure is below this median.

• Omega Town 1: 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 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost for these fees Rs 90,000. 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 Omega Town 2?

The Sub Registrar Office that covers Omega Town 2 is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kannivakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value will be considered to ensure that the appropriate fees are calculated based on the current rates set by the Registration Department. This value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Omega Town 2?

The current guideline value of Omega Town 2 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 2 has remained constant at Rs 1,000 per sq.ft for both the 2023 and 2024 revisions, with no figures available for earlier years such as 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Omega Town 2?

The land classification for Omega Town 2 is Mixed Special Type - I, which indicates the type of development and usage permitted in this area.

What are the stamp duty and registration fees for property in Omega Town 2?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be 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 2 located?

The Sub Registrar Office for Omega Town 2 is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. This office handles the registration of property transactions in the area.