Guideline Value for Om. Sakthi Nagar

Om. Sakthi Nagar guideline value

The current guideline value of Om. Sakthi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This locality is situated in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Om. Sakthi Nagar has changed

The guideline value for Om. Sakthi Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with the median value being Rs 1,870 per sq.ft. The guideline value of Om. Sakthi Nagar matches this median.

• Om. Sakthi Nagar Annexe: Rs 1,870 per sq.ft (2024)
• Om. Ganapathy Nagar: Rs 1,540 per sq.ft (2024)
• Othavadai Street: Rs 1,540 per sq.ft (2024)
• O.A.K. Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Oa Dheen Nagar: Rs 2,200 per sq.ft (2024)
• Padmavathy Nagar: Rs 1,830 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 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees together to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Om. Sakthi Nagar?

The Sub Registrar Office that covers Om. Sakthi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is an essential factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Om. Sakthi Nagar?

The current guideline value of Om. Sakthi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft, which is an overall increase of 64% over the years.

What is the stamp duty rate for property in Om. Sakthi Nagar?

The stamp duty rate for property transactions in Om. Sakthi Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Om. Sakthi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the other streets in Mangadu -A with guideline values?

Other streets in Mangadu -A include Om. Sakthi Nagar Annexe, Om. Ganapathy Nagar, Othavadai Street, O.A.K. Nagar Annexe, Oa Dheen Nagar, and Padmavathy Nagar, each with their respective guideline values for 2024.