Guideline Value for OOM SUNDARAM NAGAR

Oom Sundaram Nagar guideline value

The current guideline value of Oom Sundaram Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village under the Poonamallee SRO, classified as Mixed Type - III.

How the guideline value of Oom Sundaram Nagar has changed

The guideline value for Oom Sundaram Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 950 per sq.ft, which increased to Rs 1,425 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 1,550 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value rose by 50%, and overall, from 2017 to 2024, it has increased by 63%. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft. The median value for these streets is Rs 1,800 per sq.ft, making Oom Sundaram Nagar's 2024 figure below that median.

• Om Sakthi Nagar: Rs 660 per sq.ft (2024)
• Newry Clovery County: Rs 3,500 per sq.ft (2024)
• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Navin Avenue: Rs 660 per sq.ft (2024)
• Prime Gardens: Rs 1,440 per sq.ft (2024)
• Masilamani Nagar Extension: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Oom Sundaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Oom Sundaram Nagar?

The Sub Registrar Office that covers Oom Sundaram Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Oom Sundaram Nagar?

The current guideline value of Oom Sundaram Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 950 per sq.ft in 2017 to Rs 1,425 per sq.ft in 2023, and now to Rs 1,550 per sq.ft in 2024. This represents an overall increase of 63% from 2017 to 2024.

What is the median guideline value for streets in Parivakkam?

The median guideline value for the 31 streets in Parivakkam is Rs 1,800 per sq.ft. Oom Sundaram Nagar's current value is below this median.

What are the stamp duty rates for properties in Oom Sundaram Nagar?

The stamp duty rate for properties in Oom Sundaram Nagar is 7%. This is calculated based on the higher of the guideline value or the sale price of the property.

Where is the Sub Registrar Office for Oom Sundaram Nagar located?

The Sub Registrar Office for Oom Sundaram Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.