Guideline Value for Om Parasakthi Street, V.O.C Nagar

Om Parasakthi Street, V.O.C Nagar guideline value

The current guideline value of Om Parasakthi Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the jurisdiction of the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Om Parasakthi Street, V.O.C Nagar has changed

The guideline value for Om Parasakthi Street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,675 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 raised the value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise highlights the changes in property valuation over the years.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Om Parasakthi Street's 2024 figure above the median.

• Om Parasakthi Street: Rs 2,750 per sq.ft (2024)
• N.V.N Somu Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• N.T.Krishnan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• N.S.K. Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• N.S.K. Street (Mungli Ari): Rs 2,475 per sq.ft (2024)
• N.S.K Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Om Parasakthi Street, V.O.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on fees applicable to property transactions.

Which Sub Registrar Office covers Om Parasakthi Street, V.O.C Nagar?

The Sub Registrar Office that covers Om Parasakthi Street, V.O.C Nagar is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pammal. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during registration.

Additionally, the guideline value helps in assessing the worth of a property within the local real estate market. It is essential for both parties to understand how this value impacts the overall transaction costs.

Frequently asked questions

What is the current guideline value of Om Parasakthi Street, V.O.C Nagar?

The current guideline value of Om Parasakthi Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Om Parasakthi Street?

Om Parasakthi Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Om Parasakthi Street, V.O.C Nagar is located at Pammal Sub Registrar Office, Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,750 per sq.ft incurs a total fee of Rs 2,47,500.