Guideline Value for OMSHAKTHY ELITE

Omshakthy Elite guideline value

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

How the guideline value of Omshakthy Elite has changed

Looking at the revisions, the guideline value for Omshakthy Elite has seen several changes over the years. The 2012 revision set the value at Rs 650 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision recorded a lower value of Rs 435 per sq.ft, marking a decrease of 33% from 2012. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 650 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 650 per sq.ft, showing no change from the previous year. It is worth noting that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Omshakthy Elite is above this median.

• Omsakthi Nagar: 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 Omshakthy Elite

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, bringing the total fees together to Rs 58,500. 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 details.

Which Sub Registrar Office covers Omshakthy Elite?

The Omshakthy Elite property falls under the jurisdiction of 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 crucial factor in property transactions in Orathur. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during registration.

When a property is bought or sold, the guideline value helps in establishing a fair transaction price for taxation purposes. This value is used by the registration office to calculate the applicable fees, ensuring that both parties are informed of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Omshakthy Elite?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 650 per sq.ft in the 2023 and 2024 revisions. It was Rs 435 per sq.ft in 2017, which was a 33% decrease from Rs 650 in 2012.

What is the land classification of Omshakthy Elite?

Omshakthy Elite is classified as Residential Special Type - IV, indicating its suitability for residential development.

Where can I find the registration office for Omshakthy Elite?

The registration office for Omshakthy Elite 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 Omshakthy Elite?

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