Guideline Value for Om Sakthi Nagar

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Om Sakthi Nagar has changed

Over the years, the guideline value of Om Sakthi Nagar has seen several revisions. The 2012 revision set the value at Rs 550 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision marked a significant increase from the previous figure of Rs 368 per sq.ft in 2017, reflecting a 49% rise. The guideline value remained steady at Rs 550 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 550 per sq.ft.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 3,100 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Om Sakthi Nagar's 2024 figure above this median.

• Padmavathy Nagar (Padmavathy Avenue): Rs 400 per sq.ft (2024)
• Muthamil Nagar: Rs 600 per sq.ft (2024)
• Pranav Orchid: Rs 600 per sq.ft (2024)
• Mettu street: Rs 400 per sq.ft (2024)
• Meenakshi Nagar: Rs 400 per sq.ft (2024)
• Ramakrishna Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Nagar?

The Om Sakthi Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Salamangalam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that both buyers and sellers are aware of the financial obligations involved in the registration process.

During the registration of a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 550 per sq.ft from 2012 to 2024, with a significant increase from Rs 368 per sq.ft in 2017. There were no changes in the 2023 to 2024 revisions.

What is the land classification for Om Sakthi Nagar?

Om Sakthi Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office covering Om Sakthi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Om Sakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.