Guideline Value for SHARMA NAGAR 4TH STREET

Sharma Nagar 4th Street guideline value

The current guideline value of Sharma Nagar 4th Street is Rs 3,200 per sq.ft, effective from the 2024 revision. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Sharma Nagar 4th Street has changed

The guideline value for Sharma Nagar 4th 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. Following that, the value saw a significant rise to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. 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. Notably, there is no figure available for the year 2002 in the register for this street.

Between the revisions, there have been notable changes. From 2003 to 2007, the increase was 5%. The value surged by 500% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a rise of 7%. Overall, from 2003 to 2024, the guideline value has increased by 571%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with the 2024 guideline values 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, making the 2024 figure for Sharma Nagar 4th Street above this median.

• 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)
• Sharma Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 5th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 6th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 7th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar 4th 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, charged at 7%, would amount to Rs 2,24,000, while the registration fee at 2% would be Rs 64,000. Together, the total cost for stamp duty and registration fee would be Rs 2,88,000. It is important to note that the 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 Nagar 4th Street?

The Sub Registrar Office that covers Sharma Nagar 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process of property transactions in Perambur. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Sharma Nagar 4th Street?

The current guideline value of Sharma Nagar 4th Street is Rs 3,200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 477 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 571% over the years.

What are the stamp duty and registration fees for property in Sharma Nagar 4th 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 Sub Registrar Office handles registrations for Sharma Nagar 4th Street?

The Purasaivakkam Sub Registrar Office at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Sharma Nagar 4th Street.

What is the range of guideline values for streets in Perambur?

The guideline values for streets in Perambur range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft.