Guideline Value for Om Vasan Nagar

Om Vasan Nagar guideline value

The current guideline value of Om Vasan Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Om Vasan Nagar has changed

Over the years, the guideline value of Om Vasan Nagar has seen several revisions. The earliest recorded value was Rs 175 per sq.ft in 2007, which then increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, there was a decrease to Rs 804 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 1,200 per sq.ft, indicating no change between these two years.

The changes between revisions show a +586% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. The value then rose by +49% from 2017 to 2023, with the overall increase from 2007 to 2024 being +586%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value of Om Vasan Nagar is equal to this median.

• Padbanaban Avenue: Rs 1,201 per sq.ft (2024)
• Nisha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Nisha Nagar: Rs 1,200 per sq.ft (2024)
• Pandian Avenue: Rs 1,200 per sq.ft (2024)
• Pearl Enclave: Rs 1,200 per sq.ft (2024)
• Periyar Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Om Vasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Om Vasan Nagar?

The Sub Registrar Office that covers Om Vasan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Om Vasan Nagar?

The current guideline value of Om Vasan Nagar is Rs 1,200 per sq.ft, effective from the 2024 revision starting 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and has remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Om Vasan Nagar?

The land classification of Om Vasan Nagar is Commercial Special Type - I, which is significant for understanding its use and potential development.

Where can I find the Sub Registrar Office for Om Vasan Nagar?

The Sub Registrar Office for Om Vasan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Om Vasan Nagar?

The stamp duty for properties in Om Vasan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.