Guideline Value

Corporate

Guideline Value for Om Sakthi Nagar 2nd Cross

₹3850/sq.ft.

The guideline value for Om Sakthi Nagar 2nd 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 2nd Cross

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Om Sakthi Nagar 2nd Cross guideline value

The current guideline value for Om Sakthi Nagar 2nd Cross is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Om Sakthi Nagar 2nd Cross has changed

The guideline value for Om Sakthi Nagar 2nd 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. The value then rose to Rs 500 per sq.ft in 2007, which was an 11% increase from the previous revision. The 2012 revision saw a significant jump to Rs 3,500 per sq.ft, reflecting a 600% increase from 2007. Finally, the current value is Rs 3,850 per sq.ft, which is a 10% increase from 2012.

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

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 for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Om Sakthi Nagar 2nd Cross.

Stamp duty and registration fee for property in Om Sakthi Nagar 2nd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500 for the transaction. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Nagar 2nd Cross?

The Om Sakthi Nagar 2nd Cross falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer decides to purchase property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value for Om Sakthi Nagar 2nd Cross?

The current guideline value for Om Sakthi Nagar 2nd 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 increased from Rs 414 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 830% over the years.

What is the land classification for Om Sakthi Nagar 2nd Cross?

The land classification for Om Sakthi Nagar 2nd Cross is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Om Sakthi Nagar 2nd Cross?

The Virugambakkam Sub Registrar Office covers Om Sakthi Nagar 2nd Cross and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in Om Sakthi Nagar 2nd Cross?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,850 per sq.ft, the total stamp duty would be Rs 2,69,500.