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Guideline Value

Corporate

Guideline Value for Om Sakthi Nagar 2nd Street

₹3850/sq.ft.

The guideline value for Om Sakthi Nagar 2nd Street 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 Street

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Om Sakthi Nagar 2nd Street guideline value

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

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

The guideline value for Om Sakthi Nagar 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 414 per sq.ft, which increased to Rs 450 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 500 per sq.ft in 2007, reflecting an 11% growth from the previous revision. In 2012, the guideline value jumped to Rs 3,500 per sq.ft, a substantial increase of 600% from 2007. The latest revision in 2024 sets the guideline value at 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 revisions in 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 guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the guideline value for Om Sakthi Nagar 2nd Street.

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

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, while 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 2nd Street?

The Om Sakthi Nagar 2nd Street 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 plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that transactions are conducted fairly and transparently.

When a property is registered, the guideline value is assessed to calculate the applicable fees. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar 2nd Street?

The current guideline value of Om Sakthi Nagar 2nd Street 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, marking an overall increase of 830% over the years.

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

Om Sakthi Nagar 2nd Street is classified as Residential Class II Type - I.

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

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

How is the stamp duty calculated for property transactions?

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