Guideline Value for SHARMA AVENUE

Sharma Avenue guideline value

The current guideline value of Sharma Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Sharma Avenue has changed

The guideline value of Sharma Avenue has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 800 per sq.ft, which increased to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value was carried into the 2024 revision, showing no change from the previous year. The years 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, the increase was marginal at +1%, followed by a significant rise of +49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value increased by +50%, reflecting the current value of Rs 1,200 per sq.ft.

Guideline values in Ponneri

Ponneri village has 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Sharma Avenue's 2024 figure above that median.

• Sivan Kovil St: Rs 900 per sq.ft (2024)
• Sivan Kovil Street: Rs 700 per sq.ft (2024)
• Sivaraj Street: Rs 1,200 per sq.ft (2024)
• Sowdambigai Nagar: Rs 700 per sq.ft (2024)
• Sankarapandiyan Nagar: Rs 700 per sq.ft (2024)
• Sri Karikrishna Perumal Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, charged at 7%, would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. 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 further calculations.

Which Sub Registrar Office covers Sharma Avenue?

The Sub Registrar Office that covers Sharma Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the fees reflect the true value of the transaction. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sharma Avenue?

The current guideline value of Sharma Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2024, with notable increases in the years 2017 and 2023.

What is the land classification of Sharma Avenue?

Sharma Avenue is classified as Residential Special Type - I under the Ponneri SRO.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Sharma Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at the rate of 7%.