Guideline Value for Oomaidurai Street

Oomaidurai Street guideline value

The current guideline value of Oomaidurai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Oomaidurai Street has changed

The guideline value for Oomaidurai Street has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, which then decreased to Rs 2,010 per sq.ft in 2017. Following that, the value rose to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. The overall change from 2007 to 2024 shows a substantial increase of 432% in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Oomaidurai Street's 2024 figure below that median.

• Otha vadai Street: Rs 3,300 per sq.ft (2024)
• Ottar Palayam 10th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 11th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 12th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 13th Street: Rs 4,400 per sq.ft (2024)
• Ottar Palayam 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Oomaidurai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Oomaidurai Street?

The Sub Registrar Office that covers Oomaidurai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Oomaidurai Street?

The current guideline value of Oomaidurai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than Oomaidurai Street's current value.

What are the stamp duty and registration fees for Oomaidurai Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Oomaidurai Street?

The Ashok Nagar Sub Registrar Office handles the registration for Oomaidurai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.