Guideline Value for Om Sakthi Nagar

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Om Sakthi Nagar has changed

The guideline value for Om Sakthi Nagar has seen significant changes over the years. In 2003, the value was Rs 100 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a substantial rise of 250%. The value then surged dramatically to Rs 1,900 per sq.ft in 2012, reflecting a remarkable increase of 443%. However, from 2012 to 2017, the value dropped to Rs 1,273 per sq.ft, a decrease of 33%. The value then climbed to Rs 1,900 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,090 per sq.ft, an increase of 10% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1990%. It is important to note that the register has no figure for Om Sakthi Nagar in 2002.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft, with the median value being Rs 2,090 per sq.ft. Om Sakthi Nagar's 2024 guideline value aligns perfectly with this median.

• Pada Salai Street: Rs 2,090 per sq.ft (2024)
• Palla Street: Rs 2,090 per sq.ft (2024)
• Paventhar Nagar Extension: Rs 2,090 per sq.ft (2024)
• Paventher Nagar: Rs 3,520 per sq.ft (2024)
• Peria Pattu Street: Rs 3,520 per sq.ft (2024)
• Nagaththamman Koil street: Rs 2,090 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, leading to a total cost of Rs 1,88,100. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om Sakthi Nagar?

The Sub Registrar Office that covers Om Sakthi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kattupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to be aware of the current guideline value to ensure compliance with registration regulations and to avoid disputes during the transaction.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 100 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 1990% over this period.

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

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300, and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which office handles property registrations in Om Sakthi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Om Sakthi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for registering properties and calculating stamp duties and registration fees. It ensures that properties are valued appropriately during transactions, helping to avoid disputes.