Guideline Value for Omres road 3rd cross street

Omres road 3rd cross street guideline value

The current guideline value of Omres road 3rd cross street is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Mixed Type - I.

How the guideline value of Omres road 3rd cross street has changed

Over the years, the guideline value of Omres road 3rd cross street has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 3,000 per sq.ft. This increased to Rs 12,300 per sq.ft in 2012, marking a substantial rise of 310%. However, by 2017, the value dropped to Rs 8,241 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 12,300 per sq.ft in 2023, before reaching the current rate of Rs 13,400 per sq.ft in 2024, reflecting a 9% increase.

From 2017 to 2023, the increase was 49%, and overall, from 2007 to 2024, the guideline value has risen by 347%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Omres road 3rd cross street is above this median.

• Omres lane: 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 road 3rd cross street

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, bringing the total to Rs 12,06,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Omres road 3rd cross street?

The Sub Registrar Office covering Omres road 3rd cross street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of real estate.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that buyers and sellers adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Omres road 3rd cross street?

The current guideline value of Omres road 3rd cross street 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 from Rs 3,000 per sq.ft in 2007 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 347% over the years.

What are the other streets in Egmore with similar guideline values?

Other streets in Egmore with similar guideline values include Omres lane and Omres road 4th cross street, both at Rs 13,400 per sq.ft in 2024.

What is the registration fee for property in Omres road 3rd cross street?

The registration fee for property in Omres road 3rd cross street is calculated based on the guideline value, which is currently Rs 13,400 per sq.ft.

Where can I find the Sub Registrar Office for Omres road 3rd cross street?

The Sub Registrar Office for Omres road 3rd cross street is located at 1103, Poonamallee High Road, Chennai-600 003.