Guideline Value for Om Parasakthi Street

Om Parasakthi Street guideline value

The current guideline value of Om Parasakthi Street in Pammal village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Om Parasakthi Street has changed

The guideline value of Om Parasakthi Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 185 per sq.ft. It increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, which was a 138% increase. The 2017 revision set the value at Rs 1,206 per sq.ft, reflecting a 141% increase from the previous figure. The 2023 revision brought it to Rs 1,800 per sq.ft, a 49% increase. The latest revision in 2024 increased the value to Rs 1,980 per sq.ft, a 10% rise.

It is important to note that the register has no figure for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 970%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median value for these streets is Rs 2,090 per sq.ft, placing Om Parasakthi Street's 2024 figure below that median.

• Om Parasakthi Street, V.O.C Nagar: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Parasakthi Street?

The Sub Registrar Office that covers Om Parasakthi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the transaction.

When a property is purchased, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Om Parasakthi Street?

The current guideline value of Om Parasakthi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 185 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 970% over this period.

What is the stamp duty for property in Om Parasakthi Street?

The stamp duty for property in Om Parasakthi Street is 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,38,600 based on the current guideline value.

Where is the Sub Registrar Office for Om Parasakthi Street located?

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

What is the land classification of Om Parasakthi Street?

Om Parasakthi Street is classified as Residential Class II Type - II, which is important for understanding its usage and potential development.