Guideline Value for Om Sakthi Street

Om Sakthi Street guideline value

The current guideline value of Om Sakthi Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Om Sakthi Street has changed

The guideline value of Om Sakthi Street has seen significant changes over the years. In the 2017 revision, the value was Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the current guideline value of Om Sakthi Street.

• Om Sakthi Avenue: Rs 2,750 per sq.ft (2024)
• Orange Street: Rs 1,650 per sq.ft (2024)
• Otteri Salai (Mandaveli Street): Rs 3,300 per sq.ft (2024)
• Otterry Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Ottery Road: Rs 3,300 per sq.ft (2024)
• Ottery Road 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sakthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Om Sakthi Street?

The Sub Registrar Office that covers Om Sakthi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions.

When you buy or sell property, the guideline value is considered the minimum value for registration purposes. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Om Sakthi Street?

The current guideline value of Om Sakthi Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Om Sakthi Street?

The registration office for Om Sakthi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value.

How many streets are there in Madipakkam-1?

There are 1,823 streets in Madipakkam-1 under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft.