Guideline Value for Omanathapillai Avenue P.t.1

Omanathapillai Avenue P.t.1 guideline value

The current guideline value of Omanathapillai Avenue P.t.1 is Rs 2,100 per sq.ft. This property is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Omanathapillai Avenue P.t.1 has changed

Since the 2003 revision, the guideline value has seen significant changes. The value started at Rs 168 per sq.ft in 2003 and increased to Rs 600 per sq.ft in 2007. The 2012 revision saw a drop to Rs 2,000 per sq.ft, but by 2017, it had risen to Rs 1,340 per sq.ft. The value then increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,100 per sq.ft, reflecting a 5% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1150%. The register has no figure for the 2002 revision for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Omanathapillai Avenue P.t.1 below this median.

• Odai Street: Rs 3,300 per sq.ft (2024)
• Om Sakthi Nagar: Rs 2,160 per sq.ft (2024)
• North Subramaniyar Koil 1st St.: Rs 2,160 per sq.ft (2024)
• North Sanjay Gandhi Nagar: Rs 2,100 per sq.ft (2024)
• North Dharka Road: Rs 2,750 per sq.ft (2024)
• Pachaiamman Koil 1 To 4 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Omanathapillai Avenue P.t.1

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total fees to Rs 1,89,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Omanathapillai Avenue P.t.1?

The Sub Registrar Office that covers Omanathapillai Avenue P.t.1 is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair value of the property, ensuring transparency in transactions and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Omanathapillai Avenue P.t.1?

The current guideline value of Omanathapillai Avenue P.t.1 is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 168 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 1150% over this period.

What is the land classification for Omanathapillai Avenue P.t.1?

Omanathapillai Avenue P.t.1 is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Omanathapillai Avenue P.t.1 is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Zaminpallavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 at 7%.