Guideline Value for Om Nagar - II

Om Nagar - II guideline value

The current guideline value of Om Nagar - II is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Thodukadu village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Om Nagar - II has changed

Over the years, the guideline value for Om Nagar - II has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was lowered to Rs 268 per sq.ft. The 2023 revision brought it back to Rs 400 per sq.ft, and this value has been retained in the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was an increase of 49%. The overall change from the 2012 revision to the 2024 revision is 0%, indicating that despite fluctuations, the value has stabilized at Rs 400 per sq.ft since 2012. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thodukadu

In Thodukadu village, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Om Nagar - II matches this median.

• Om Nagar - I: Rs 400 per sq.ft (2024)
• Om Nagar - III: Rs 400 per sq.ft (2024)
• Om Nagar - IV: Rs 400 per sq.ft (2024)
• NTREE Nagar: Rs 500 per sq.ft (2024)
• PalliKooda theru: Rs 500 per sq.ft (2024)
• Parangusapuram: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Om Nagar - II

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Nagar - II?

The Sub Registrar Office that covers Om Nagar - II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thodukadu. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation rather than the negotiated sale price.

This system helps maintain transparency in property transactions, as the guideline value is regularly updated and reflects the official stance of the Registration Department. Buyers and sellers should always refer to the latest guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Om Nagar - II?

The current guideline value of Om Nagar - II is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a notable increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Om Nagar - II?

Om Nagar - II is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Om Nagar - II?

The Sub Registrar Office covering Om Nagar - II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Om Nagar - II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.