Guideline Value for Om Shakthi Vinayagar Koil Street

Om Shakthi Vinayagar Koil Street guideline value

The current guideline value of Om Shakthi Vinayagar Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Om Shakthi Vinayagar Koil Street has changed

The guideline value for Om Shakthi Vinayagar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,500 per sq.ft, marking a 9% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the value has increased by 9%.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. The changes in value reflect the adjustments made in response to market conditions and local developments.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Om Shakthi Vinayagar Koil Street.

• N.S.K. Street (Krishnamoorthy Nagar): Rs 1,900 per sq.ft (2024)
• N.S.K. Street: Rs 1,900 per sq.ft (2024)
• N.S.Krishnan Street (Soozhulpunal Karai): Rs 2,200 per sq.ft (2024)
• Palani Street: Rs 2,200 per sq.ft (2024)
• Palvadi Street: Rs 1,900 per sq.ft (2024)
• New Lakshmi Amman Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Om Shakthi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost to Rs 2,25,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Om Shakthi Vinayagar Koil Street?

The Om Shakthi Vinayagar Koil Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Om Shakthi Vinayagar Koil Street?

The current guideline value of Om Shakthi Vinayagar Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, a 9% increase. It was Rs 1,541 per sq.ft in 2017, showing a 49% increase from then to 2023.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office is responsible for this area?

The Madhavaram Sub Registrar Office covers Om Shakthi Vinayagar Koil Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including local market conditions and property classifications. It is revised periodically to reflect changes in the real estate landscape.