Guideline Value for Om Sakthi Avenue

Om Sakthi Avenue guideline value

The current guideline value of Om Sakthi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Om Sakthi Avenue has changed

The guideline value for Om Sakthi Avenue has undergone significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This figure remained until the 2024 revision, which increased the guideline value to Rs 2,750 per sq.ft, marking a substantial increase of 64% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Therefore, the only revisions that reflect a guideline value are from 2017 and 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,750 per sq.ft, which is the same as the current value for Om Sakthi Avenue.

• Om Sakthi Street: Rs 2,750 per sq.ft (2024)
• Orange Street: Rs 1,650 per sq.ft (2024)
• Otteri Salai (Mandaveli Street): Rs 3,300 per sq.ft (2024)
• Otterry Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Ottery Road: Rs 3,300 per sq.ft (2024)
• Ottery Road 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Avenue

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 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Om Sakthi Avenue?

The Sub Registrar Office covering Om Sakthi Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in assessing the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for transactions, ensuring that properties are not undervalued during registration.

Frequently asked questions

What is the current guideline value of Om Sakthi Avenue?

The current guideline value of Om Sakthi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value for Om Sakthi Avenue has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft, which is a rise of 64%.

Are there any years without a guideline value for Om Sakthi Avenue?

Yes, the register has no figures for Om Sakthi Avenue for the years 2023, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for a property in Om Sakthi Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Om Sakthi Avenue?

The Velacheri Sub Registrar Office handles the registration for Om Sakthi Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.