Guideline Value for OMSAKTHI NAGAR

Omsakthi Nagar guideline value

The current guideline value of Omsakthi Nagar is Rs 160 per sq.ft, effective from 1 July 2024. This area is part of Edamboothur village under the Salavakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Omsakthi Nagar has changed

The guideline value for Omsakthi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 70 per sq.ft, which was then decreased to Rs 47 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, and further rose to Rs 160 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall increase in guideline value is 129%. Specifically, the change from 2017 to 2023 was a notable increase of 113%, while the jump from 2023 to 2024 represents a 60% increase.

Guideline values in Edamboothur

In addition to Omsakthi Nagar, there are other streets in Edamboothur under the Salavakkam SRO. The guideline values for these streets provide a broader context for property valuation in the area.

• Rpg Metro City: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Omsakthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 160 per sq.ft, the guideline value amounts to Rs 1,60,000. The stamp duty at 7% would be Rs 11,200, and the registration fee at 2% would be Rs 3,200, totaling Rs 14,400. It is important to note that 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 details.

Which Sub Registrar Office covers Omsakthi Nagar?

The Salavakkam Sub Registrar Office covers Omsakthi Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Edamboothur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. This process is essential for maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Omsakthi Nagar?

The current guideline value of Omsakthi Nagar is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 160 per sq.ft in 2024, reflecting an overall increase of 129% over this period.

What is the stamp duty for properties in Omsakthi Nagar?

The stamp duty for properties in Omsakthi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

Are there other streets in Edamboothur with guideline values?

Yes, there are other streets in Edamboothur, such as Rpg Metro City, which has a guideline value of Rs 104 per sq.ft as of 2024.