Guideline Value

Corporate

Guideline Value for Om Sakthi Nagar 1st Cross

₹3850/sq.ft.

The guideline value for Om Sakthi Nagar 1st Cross in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹450 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹414 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Om Sakthi Nagar 1st Cross

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Om Sakthi Nagar 1st Cross guideline value

The current guideline value of Om Sakthi Nagar 1st Cross is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Om Sakthi Nagar 1st Cross has changed

The guideline value for Om Sakthi Nagar 1st Cross has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 414 per sq.ft. This increased to Rs 450 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting an 11% increase. The 2012 revision saw a significant jump to Rs 3,500 per sq.ft, a 600% increase from the previous figure. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the 2012 revision.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, the guideline value has increased by 830% from 2002 to 2024.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the guideline value for Om Sakthi Nagar 1st Cross.

Stamp duty and registration fee for property in Om Sakthi Nagar 1st Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. 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 Sakthi Nagar 1st Cross?

Om Sakthi Nagar 1st Cross falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Valasaravakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and legally.

Buyers and sellers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be based on the sale price instead.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar 1st Cross?

The current guideline value of Om Sakthi Nagar 1st Cross is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 414 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 830% over this period.

What is the stamp duty rate for properties in Om Sakthi Nagar 1st Cross?

The stamp duty rate for properties in Om Sakthi Nagar 1st Cross is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Om Sakthi Nagar 1st Cross?

The Virugambakkam Sub Registrar Office handles registrations for Om Sakthi Nagar 1st Cross, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Are there other streets in Valasaravakkam with the same guideline value?

Yes, several other streets in Valasaravakkam have the same guideline value of Rs 3,850 per sq.ft, including Om Sakthi Nagar 10th Street, 1st Street, 2nd Cross, 2nd Street, 3rd Cross, and 3rd Street.