Guideline Value for Om sakthi Nagar

Om sakthi Nagar guideline value

The current guideline value of Om sakthi Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Om sakthi Nagar has changed

The guideline value for Om sakthi Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 142 per sq.ft. It increased to Rs 153 per sq.ft in 2003, marking an 8% rise. The value continued to rise significantly, reaching Rs 400 per sq.ft in 2007, which was a 161% increase from the previous revision. In 2012, the value was Rs 1,300 per sq.ft, reflecting a substantial 225% increase from the 2007 figure.

In the subsequent revisions, the guideline value was Rs 871 per sq.ft in 2017, which represented a decrease of 33% from 2012. The 2023 revision saw an increase to Rs 1,300 per sq.ft, followed by the current value of Rs 1,400 per sq.ft in 2024, which is an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 886%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Om sakthi Nagar is below this median.

• Oragadam Road: Rs 2,500 per sq.ft (2024)
• oragadam Road Cross Salai: Rs 2,400 per sq.ft (2024)
• Othavadai Street: Rs 1,600 per sq.ft (2024)
• Pachaiammal Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Pachai Amman Koil Street: Rs 1,600 per sq.ft (2024)
• Pachaiappan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Om sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om sakthi Nagar?

The Sub Registrar Office that covers Om sakthi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the local regulations during the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Nagar?

The current guideline value of Om sakthi Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 142 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 886% over this period.

What is the classification of land in Om sakthi Nagar?

Om sakthi Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Om sakthi Nagar is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

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

The Sub Registrar Office for Om sakthi Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.