Guideline Value for Om Sakthi Nagar

Om Sakthi Nagar guideline value

The current guideline value of Om Sakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village and falls under the Poonamallee SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Om Sakthi Nagar has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This value decreased to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the guideline value increased significantly to Rs 600 per sq.ft in the 2023 revision, and then further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft, with a median value of Rs 1,800 per sq.ft. The guideline value of Om Sakthi Nagar is below this median.

• Oom Sundaram Nagar: Rs 1,550 per sq.ft (2024)
• Newry Clovery County: Rs 3,500 per sq.ft (2024)
• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Navin Avenue: Rs 660 per sq.ft (2024)
• Prime Gardens: Rs 1,440 per sq.ft (2024)
• Masilamani Nagar Extension: Rs 1,800 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, calculated at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, these fees total Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Om Sakthi Nagar?

Om Sakthi Nagar is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Parivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Om Sakthi Nagar?

The current guideline value of Om Sakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increasing to Rs 600 per sq.ft in 2023, and finally reaching Rs 660 per sq.ft in 2024.

What is the land classification for Om Sakthi Nagar?

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

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056, which covers Om Sakthi Nagar.

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

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 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.