Guideline Value for OsanKulam

OsanKulam guideline value

The current guideline value of OsanKulam is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Egmore village under the Periamet SRO and is classified as Residential Class IV Type - I.

How the guideline value of OsanKulam has changed

The guideline value for OsanKulam has undergone several revisions over the years. In 2003, the value was Rs 517 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The value then saw a significant rise of 225% to Rs 2,600 per sq.ft in 2012. However, it decreased by 33% to Rs 1,742 per sq.ft in 2017. The subsequent revision in 2023 brought the value to Rs 2,600 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,800 per sq.ft, marking an 8% increase from the previous year. The register has no figure for this street for the year 2002.

From 2003 to 2024, the overall increase in the guideline value is 442%. The changes between the revisions highlight fluctuations, with the most notable being the 49% increase from 2017 to 2023 and the substantial rise from 2007 to 2012.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, indicating that OsanKulam's 2024 figure is below this median.

• Ormes Road: Rs 15,000 per sq.ft (2024)
• PachiyappanCollege HostelStree: Rs 13,500 per sq.ft (2024)
• Omres road 4th cross street: Rs 13,400 per sq.ft (2024)
• Omres road 3rd cross street: Rs 13,400 per sq.ft (2024)
• Omres lane: Rs 13,400 per sq.ft (2024)
• Old JailWardenQuarters: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in OsanKulam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, these fees would total Rs 2,52,000. It is important to note that 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 OsanKulam?

The Sub Registrar Office that covers OsanKulam 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 is a crucial factor when registering property transactions in Egmore. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the official value set by the registration department. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of OsanKulam?

The current guideline value of OsanKulam is Rs 2,800 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 517 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for OsanKulam?

The registration office for OsanKulam is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated in OsanKulam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.

What are the other streets in Egmore with guideline values?

Other streets in Egmore include Ormes Road with a guideline value of Rs 15,000 per sq.ft, and Pachiyappan College Hostel Street at Rs 13,500 per sq.ft, among others.