Guideline Value for OMM LAKSHME NAGAR ANNEX-II

Omm Lakshme Nagar Annex-II guideline value

The current guideline value of Omm Lakshme Nagar Annex-II is Rs 820 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills SRO, classified as Mixed Type - II land.

How the guideline value of Omm Lakshme Nagar Annex-II has changed

The guideline value for Omm Lakshme Nagar Annex-II has seen several revisions over the years. Unfortunately, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show an increase from Rs 747 per sq.ft in 2023 to Rs 820 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, the last recorded figure was Rs 747 per sq.ft. The 2024 revision reflects a significant adjustment in the guideline value for this area, aligning it above the median guideline value of Rs 440 per sq.ft for the 160 streets in Vilangadupakkam under the Redhills SRO.

Guideline values in Vilangadupakkam

In Vilangadupakkam, the guideline values vary significantly, with figures ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for the area is Rs 440 per sq.ft, placing Omm Lakshme Nagar Annex-II's 2024 figure above this median.

• Omm Lakshme Nagar Annexe: Rs 550 per sq.ft (2024)
• Om Lakshmi Nagar Part - I: Rs 440 per sq.ft (2024)
• Padma Nagar: Rs 440 per sq.ft (2024)
• Padmavathi Garden: Rs 440 per sq.ft (2024)
• Padmavathi Nagar: Rs 440 per sq.ft (2024)
• New Star Ctiy Annex - VII: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Omm Lakshme Nagar Annex-II

For a 1,000 sq.ft plot at the current rate of Rs 820 per sq.ft, the guideline value amounts to Rs 8,20,000. The stamp duty at 7% would be Rs 57,400, and the registration fee at 2% would be Rs 16,400, totaling Rs 73,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Omm Lakshme Nagar Annex-II?

The Omm Lakshme Nagar Annex-II falls under the jurisdiction of 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 Vilangadupakkam

The guideline value plays a crucial role in the registration process of property transactions in Vilangadupakkam. It serves as a reference point for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value is used to assess the applicable fees and taxes, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Omm Lakshme Nagar Annex-II?

The current guideline value of Omm Lakshme Nagar Annex-II is Rs 820 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 747 per sq.ft in 2023 to Rs 820 per sq.ft in 2024, reflecting a +10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Omm Lakshme Nagar Annex-II?

Omm Lakshme Nagar Annex-II is classified as Mixed Type - II land. This classification can affect the permissible uses and development of the property.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. This office handles property registrations in the area.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 8,20,000, the stamp duty would be Rs 57,400 at a rate of 7%.