Guideline Value for Om sakthi street (Iyappan nagar)

Om sakthi street (Iyappan nagar) guideline value

The current guideline value of Om sakthi street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Om sakthi street (Iyappan nagar) has changed

Over the years, the guideline value of Om sakthi street (Iyappan nagar) has seen significant changes. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, it then dropped to Rs 1,072 per sq.ft in 2017. The value rose to Rs 1,600 per sq.ft in 2023 and is currently Rs 1,700 per sq.ft from the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value then rose by 6% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 325%, highlighting the evolving guideline values over the years.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Om sakthi street (Iyappan nagar) is above this median.

• Padasalai street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Nova Pavilio: Rs 2,200 per sq.ft (2024)
• Pallikuda Street (School Street): Rs 1,100 per sq.ft (2024)
• Park Street: Rs 1,100 per sq.ft (2024)
• Partha Sarathi Nagar: Rs 1,100 per sq.ft (2024)
• Nehru street(Srinivasa nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Om sakthi street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Om sakthi street (Iyappan nagar)?

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

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

The guideline value plays a crucial role when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are levied based on the guideline value.

When a buyer and seller agree on a sale price, the registration process will consider the guideline value to calculate the stamp duty and registration fees. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Om sakthi street (Iyappan nagar)?

The current guideline value of Om sakthi street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall change of 325% over the years.

What is the stamp duty for property on Om sakthi street (Iyappan nagar)?

The stamp duty for a property on Om sakthi street (Iyappan nagar) is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Om sakthi street (Iyappan nagar)?

The Ambattur Sub Registrar Office handles registrations for Om sakthi street (Iyappan nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Om sakthi street (Iyappan nagar)?

Om sakthi street (Iyappan nagar) is classified as Residential Special Type - II according to the guideline value register.