Guideline Value for SHARMA NAGAR 1ST STREET

Sharma Nagar 1st Street guideline value

The current guideline value of Sharma Nagar 1st 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 1st Street has changed

The guideline value for Sharma Nagar 1st Street has seen several revisions over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a change of +5%. The value remained at Rs 3,000 per sq.ft from 2012 until the 2023 revision, showing no change during this period. The most recent revision in 2024 raised the guideline value to Rs 3,200 per sq.ft, reflecting an increase of +7% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +571%. Notably, there are no figures available for the years 2002 and 2017 in the register for this street.

Guideline values in Perambur

In Perambur, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1,114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. The guideline value for Sharma Nagar 1st Street is above this median.

• Sharma Nagar 12th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 11th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 3rd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 10th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 4th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sharma Nagar 1st Street?

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

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

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. The higher of the guideline value and the sale price is considered for calculating these fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Ensuring that all fees are calculated accurately based on the guideline value helps in smooth property registration.

Frequently asked questions

What is the current guideline value of Sharma Nagar 1st Street?

The current guideline value of Sharma Nagar 1st 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 increased from Rs 477 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, marking an overall increase of +571% over the years.

What are the stamp duty and registration fees for property in Sharma Nagar 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,88,000, which includes stamp duty and registration fees based on the guideline value.

Which Sub Registrar Office is responsible for Sharma Nagar 1st Street?

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

What is the land classification for Sharma Nagar 1st Street?

Sharma Nagar 1st Street is classified as Residential Class III Type - I, indicating its designation for residential use.