Guideline Value

Corporate

Guideline Value for Om Muruga Nagar

₹330/sq.ft.

The guideline value for Om Muruga Nagar in Payasampakkam village (Redhills SRO, Chennai zone) is Rs 330 per sq.ft, effective 1 July 2024. It was Rs 300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Payasampakkam

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹330 /sq.ft.
From 1-4-2023 ₹300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹201 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹22 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Om Muruga Nagar

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Om Muruga Nagar guideline value

The current guideline value of Om Muruga Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Payasampakkam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Om Muruga Nagar has changed

The guideline value for Om Muruga Nagar has undergone several revisions over the years. In 2003, the value was Rs 22 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2007. This marked a 355% increase. In 2012, the value rose to Rs 300 per sq.ft, reflecting a 200% increase from the previous revision. However, it then decreased to Rs 201 per sq.ft in 2017, a drop of 33%. The value saw a substantial rise to Rs 300 per sq.ft again in 2023, and from 2023 to 2024, it increased by 10% to reach the current value of Rs 330 per sq.ft.

Overall, from 2003 to 2024, the guideline value has increased by 1400%. The register has no figure for this street in 2002.

Guideline values in Payasampakkam

In Payasampakkam, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Om Muruga Nagar is below this median.

Stamp duty and registration fee for property in Om Muruga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total fees together Rs 29,700. 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 Om Muruga Nagar?

The Sub Registrar Office that covers Om Muruga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Payasampakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes. Buyers and sellers must consider the guideline value to understand the financial implications of their property transactions.

When registering a property, the guideline value serves as a baseline for calculating stamp duty and registration fees. This means that even if the sale price is lower than the guideline value, the fees will be based on the guideline value, affecting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Om Muruga Nagar?

The current guideline value of Om Muruga Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 22 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, marking an overall increase of 1400%.

What are the stamp duty and registration fees for property in Om Muruga Nagar?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Om Muruga Nagar?

The Redhills Sub Registrar Office covers Om Muruga Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Om Muruga Nagar?

Om Muruga Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.