Guideline Value for SHARMA NAGAR 12TH STREET

Sharma Nagar 12th Street guideline value

The current guideline value of Sharma Nagar 12th 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 12th Street has changed

Over the years, the guideline value of Sharma Nagar 12th Street has seen significant changes. In the 2007 revision, the guideline value was Rs 500 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by another rise to Rs 3,200 per sq.ft in the 2024 revision, which is a 7% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 540%, showcasing the fluctuations over the years. The values have moved from Rs 500 per sq.ft in 2007 to the current Rs 3,200 per sq.ft, indicating a notable change in the guideline value through the revisions.

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. The median value for these streets is Rs 2,700 per sq.ft, placing Sharma Nagar 12th Street above this median with its current guideline value of Rs 3,200 per sq.ft.

• Sharma Nagar 11th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 10th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar: 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 12th 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, making the total fees Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sharma Nagar 12th Street?

The Sub Registrar Office that covers Sharma Nagar 12th 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 in Perambur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value as per the regulations.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that both the state and the buyer are protected during the transaction process, as the guideline value reflects the government’s assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Sharma Nagar 12th Street?

The current guideline value of Sharma Nagar 12th 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 from Rs 500 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, with Sharma Nagar 12th Street's value being above this median.

What are the stamp duty and registration fees for property in Sharma Nagar 12th Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 2,24,000, and the registration fee is Rs 64,000, totaling Rs 2,88,000 based on the guideline value.

Where can I find the Sub Registrar Office for Sharma Nagar 12th Street?

The Sub Registrar Office for Sharma Nagar 12th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.