Guideline Value for Om Sakthi Nagar 9th Street

Om Sakthi Nagar 9th Street guideline value

The current guideline value of Om Sakthi Nagar 9th Street 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 9th Street has changed

The guideline value for Om Sakthi Nagar 9th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 3,500 per sq.ft, but it increased to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 equal to the 2024 guideline value of Om Sakthi Nagar 9th Street.

• Om Sakthi Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Om Sakthi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Om Sakthi Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Om Sakthi Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Om Sakthi Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Om Sakthi Nagar 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Nagar 9th 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, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Om Sakthi Nagar 9th Street?

The Om Sakthi Nagar 9th 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 is a crucial factor when registering property in Valasaravakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value of the property being transacted.

When you buy or sell property, the guideline value helps determine the legal obligations for taxes and fees. It is essential to reference the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar 9th Street?

The current guideline value of Om Sakthi Nagar 9th 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 changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, marking a total increase of 10% over this period.

What is the land classification for Om Sakthi Nagar 9th Street?

Om Sakthi Nagar 9th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Om Sakthi Nagar 9th Street?

The registration office for Om Sakthi Nagar 9th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for property in Om Sakthi Nagar 9th Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.