Guideline Value for Omres lane

Omres lane guideline value

The current guideline value of Omres lane is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and the land classification is Mixed Type - I.

How the guideline value of Omres lane has changed

Looking at the revisions, the guideline value for Omres lane has seen significant changes over the years. In 2007, the value was Rs 2,600 per sq.ft, which increased to Rs 12,300 per sq.ft in 2012. However, it then decreased to Rs 8,241 per sq.ft in 2017. The value rose again to Rs 12,300 per sq.ft in 2023, before reaching the current figure of Rs 13,400 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The most notable increase occurred from 2007 to 2012, where the value surged by 373%. Overall, from 2007 to 2024, the guideline value has risen by 415%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values in 2024 ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Omres lane's current guideline value above that median.

• Omres road 3rd cross street: Rs 13,400 per sq.ft (2024)
• Omres road 4th cross street: Rs 13,400 per sq.ft (2024)
• Old JailWardenQuarters: Rs 6,300 per sq.ft (2024)
• Ormes Road: Rs 15,000 per sq.ft (2024)
• OsanKulam: Rs 2,800 per sq.ft (2024)
• N Street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Omres lane

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, leading to a total of Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Omres lane?

The Sub Registrar Office that covers Omres lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Omres lane?

The current guideline value of Omres lane is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,600 per sq.ft in 2007 to Rs 13,400 per sq.ft in 2024, representing an overall increase of 415%.

What are the stamp duty and registration fees for properties in Omres lane?

For a 1,000 sq.ft property, the total guideline value is Rs 1,34,00,000. The stamp duty would be Rs 9,38,000 and the registration fee would be Rs 2,68,000, totaling Rs 12,06,000.

Which Sub Registrar Office handles transactions for Omres lane?

The Periamet Sub Registrar Office handles transactions for Omres lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Omres lane?

The land classification for Omres lane is Mixed Type - I, which is relevant for understanding the guidelines and values applicable to this area.