Guideline Value for OMSAKTHI NAGAR

Omsakthi Nagar guideline value

The current guideline value of Omsakthi Nagar is Rs 650 per sq.ft, effective from 1 July 2024. This area is located in Orathur village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Special Type - IV.

How the guideline value of Omsakthi Nagar has changed

Over the years, the guideline value for Omsakthi Nagar has seen several revisions. The most recent figures show that in 2024, the value is Rs 650 per sq.ft, which is the same as in 2023. In 2017, the value was Rs 435 per sq.ft, marking a significant increase of 49% from that year to 2023. Prior to that, in 2012, the value was also Rs 650 per sq.ft, indicating a decrease of 33% to Rs 435 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007.

When looking at the overall changes from 2012 to 2024, the guideline value has remained unchanged at Rs 650 per sq.ft. This consistency indicates stability in the guideline value over the last decade, despite the fluctuations seen in earlier revisions.

Guideline values in Orathur

In Orathur village, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Omsakthi Nagar's 2024 figure above that median.

• Omshakthy Elite: Rs 650 per sq.ft (2024)
• Muthu Nagar: Rs 400 per sq.ft (2024)
• M.K.R. Nagar: Rs 500 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 500 per sq.ft (2024)
• Maniyammai Nagar Phase-III: Rs 500 per sq.ft (2024)
• Maniyammai Nagar: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Omsakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value amounts to Rs 6,50,000. The stamp duty at 7% would be Rs 45,500, and the registration fee at 2% would be Rs 13,000, making the total charges Rs 58,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Omsakthi Nagar?

The Sub Registrar Office that covers Omsakthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Orathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these charges are fair and consistent across transactions.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This means that if the sale price is lower than the guideline value, the stamp duty will be based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Omsakthi Nagar?

The current guideline value of Omsakthi Nagar is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 650 per sq.ft in 2024 and 2023. The value was Rs 435 per sq.ft in 2017, showing a 49% increase from 2017 to 2023.

What is the land classification of Omsakthi Nagar?

Omsakthi Nagar is classified as Residential Special Type - IV, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Omsakthi Nagar?

The Sub Registrar Office for Omsakthi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Omsakthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 6,50,000, the stamp duty at 7% would be Rs 45,500.