Guideline Value for SHARMA NAGAR 11TH STREET

Sharma Nagar 11th Street guideline value

The current guideline value of Sharma Nagar 11th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sharma Nagar 11th Street has changed

Over the years, the guideline value of Sharma Nagar 11th Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 500 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, it then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,200 per sq.ft from the 2024 revision, reflecting a 7% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Sharma Nagar 11th Street is above this median.

• Sharma Nagar 10th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 12th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 3rd Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sharma Nagar 11th Street?

The Sub Registrar Office that covers Sharma Nagar 11th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

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

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sharma Nagar 11th Street?

The current guideline value of Sharma Nagar 11th Street is Rs 3,200 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 500 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 540%.

What are the stamp duty and registration fees for property in Sharma Nagar 11th Street?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000, and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which office handles property registrations for Sharma Nagar 11th Street?

The Purasaivakkam Sub Registrar Office handles property registrations for Sharma Nagar 11th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Sharma Nagar 11th Street?

Sharma Nagar 11th Street is classified as Residential Class III Type - I.