Guideline Value for Om Nagar

Om Nagar guideline value

The current guideline value of Om Nagar, located in Thirumangalam village under the Sunguvarchattram SRO, is Rs 605 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Om Nagar has changed

The guideline value for Om Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 200 per sq.ft. This figure increased to Rs 405 per sq.ft in 2017, marking a 103% rise. The most recent revisions in 2023 and 2024 maintained the value at Rs 605 per sq.ft, indicating no change between these two years.

Overall, from 2012 to 2024, the guideline value has increased by 203%. The guideline value remained unchanged from 2023 to 2024, while the increase from 2017 to 2023 was 49%.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, which is equal to the current guideline value of Om Nagar.

• Padmavathi Nagar: Rs 605 per sq.ft (2024)
• Palkarar Street: Rs 600 per sq.ft (2024)
• Palla Street: Rs 700 per sq.ft (2024)
• Naidu Street: Rs 250 per sq.ft (2024)
• Pillaiayar Kovil Street: Rs 605 per sq.ft (2024)
• Moogambiga Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Om Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, making the total fees Rs 54,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Om Nagar?

Om Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Om Nagar?

The current guideline value of Om Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, which is an overall increase of 203%.

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

For a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350, and the registration fee would be Rs 12,100, totaling Rs 54,450.

Which Sub Registrar Office covers Om Nagar?

Om Nagar is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Om Nagar?

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