Guideline Value for Om Jai Sai Avenue

Om Jai Sai Avenue guideline value

The current guideline value of Om Jai Sai Avenue is Rs 935 per sq.ft, effective from 1 July 2024. This street is located in Malayambakkam village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Om Jai Sai Avenue has changed

The guideline value for Om Jai Sai Avenue has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 850 per sq.ft. In 2017, it decreased to Rs 569 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 850 per sq.ft, and in 2024, it rose further to Rs 935 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft, with a median value of Rs 935 per sq.ft. Om Jai Sai Avenue's guideline value aligns with this median.

• Om Ganapathy Nagar: Rs 935 per sq.ft (2024)
• Palla Street: Rs 880 per sq.ft (2024)
• Papa City: Rs 800 per sq.ft (2024)
• Paradise: Rs 2,310 per sq.ft (2024)
• Pari Garden: Rs 935 per sq.ft (2024)
• Pattammal Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Om Jai Sai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total fees to Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Jai Sai Avenue?

Om Jai Sai Avenue falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value will be used to calculate the applicable duties, which are necessary for the registration of the sale. This ensures that the transaction is officially recorded and that all legal obligations are met.

Frequently asked questions

What is the current guideline value of Om Jai Sai Avenue?

The current guideline value of Om Jai Sai Avenue is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then back to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Om Jai Sai Avenue?

Om Jai Sai Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Om Jai Sai Avenue?

The Kunrathur Sub Registrar Office covers Om Jai Sai Avenue and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Om Jai Sai Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450 at a rate of 7%.