Guideline Value for OODAMA NAGAR

Oodama Nagar guideline value

The current guideline value of Oodama Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - III.

How the guideline value of Oodama Nagar has changed

The guideline value for Oodama Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,100 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Oodama Nagar's 2024 figure below this median.

• Om Sakthi Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,650 per sq.ft (2024)
• Odama Varasidhi Vinayagar Koil Street / Valliammal Nagar: Rs 1,100 per sq.ft (2024)
• Painthamil Nagar: Rs 1,320 per sq.ft (2024)
• Palaniappa Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Oodama Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Oodama Nagar?

The Sub Registrar Office that covers Oodama Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the government. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Oodama Nagar?

The current guideline value of Oodama Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Oodama Nagar?

Oodama Nagar is classified as Residential Class IV Type - III according to the land classification standards.

What are the stamp duty and registration fees for properties in Oodama Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Oodama Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations in Oodama Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.