Guideline Value for Om Vigneshwara Nagar

Om Vigneshwara Nagar guideline value

The current guideline value of Om Vigneshwara Nagar is Rs 900 per sq.ft as per the 2023 revision. This area falls under the Gooduvancheri Sub Registrar Office and is classified as Residential Special Type - III.

How the guideline value of Om Vigneshwara Nagar has changed

Over the years, the guideline value of Om Vigneshwara Nagar has seen several revisions. The 2007 revision recorded a guideline value of Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a substantial rise of 650%. However, in the 2017 revision, the value dropped to Rs 603 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2023 set the guideline value back to Rs 900 per sq.ft, resulting in an increase of 49% from the previous figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 650%. The register does not have figures for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. Om Vigneshwara Nagar is one of the streets in this area, and there are no other streets in Nalambakkam under the Gooduvancheri SRO listed.

Stamp duty and registration fee for property in Om Vigneshwara Nagar

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total to Rs 81,000. 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 details.

Which Sub Registrar Office covers Om Vigneshwara Nagar?

The Om Vigneshwara Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nalambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om Vigneshwara Nagar?

The current guideline value of Om Vigneshwara Nagar is Rs 900 per sq.ft as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and returned to Rs 900 per sq.ft in 2023.

What is the land classification of Om Vigneshwara Nagar?

Om Vigneshwara Nagar is classified as Residential Special Type - III.

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 9,00,000 would incur a stamp duty of Rs 63,000 at 7%.