Guideline Value for Om Sri Mahalakshmi Nagar

Om Sri Mahalakshmi Nagar guideline value

The current guideline value of Om Sri Mahalakshmi Nagar is Rs 989 per sq.ft, effective from 1 July 2024. This area is located in Thandurai village, under the Avadi Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Om Sri Mahalakshmi Nagar has changed

The guideline value for Om Sri Mahalakshmi Nagar has seen several revisions since 2012. In the 2012 revision, the value was Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, and then further rose to Rs 989 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO, with guideline values ranging from Rs 800 to Rs 2,640 per sq.ft. The median guideline value for the village is Rs 988 per sq.ft, placing Om Sri Mahalakshmi Nagar's 2024 figure slightly above this median.

• Om Saravana Nagar: Rs 988 per sq.ft (2024)
• Ortiyal Road: Rs 1,980 per sq.ft (2024)
• Other Cross Streets: Rs 800 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 801 per sq.ft (2024)
• North Bajar: Rs 1,950 per sq.ft (2024)
• N.M.Road: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Om Sri Mahalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 989 per sq.ft, the total guideline value would be Rs 9,89,000. The stamp duty at 7% would amount to Rs 69,230, and the registration fee at 2% would be Rs 19,780, bringing the total cost for these fees to Rs 89,010. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Om Sri Mahalakshmi Nagar?

The Om Sri Mahalakshmi Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Thandurai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. 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 Sri Mahalakshmi Nagar?

The current guideline value of Om Sri Mahalakshmi Nagar is Rs 989 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 989 per sq.ft in 2024.

What is the land classification of Om Sri Mahalakshmi Nagar?

Om Sri Mahalakshmi Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

What are the guideline values of other streets in Thandurai?

Other streets in Thandurai have varying guideline values, ranging from Rs 800 to Rs 2,640 per sq.ft. For example, Om Saravana Nagar is valued at Rs 988 per sq.ft, while N.M.Road has the highest value at Rs 2,640 per sq.ft.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.