Guideline Value for SHARMA NAGAR 5TH STREET

Sharma Nagar 5th Street guideline value

The current guideline value of Sharma Nagar 5th 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 5th Street has changed

The guideline value for Sharma Nagar 5th 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 this, there was a significant jump to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,200 per sq.ft in 2024. The register has no figure for this street in 2002.

In terms of percentage changes, from 2003 to 2007, the increase was +5%. The value then surged by +500% from 2007 to 2012. However, it saw a decline of -33% from 2012 to 2017. The value rebounded with a significant increase of +49% from 2017 to 2023, and finally, there was a +7% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +571%.

Guideline values in Perambur

In Perambur, the guideline values range from Rs 1,600 to Rs 7,100 per sq.ft as of 2024, with a median value of Rs 2,700 per sq.ft. The guideline value of Sharma Nagar 5th Street is above this median, indicating its relative position in the area.

• Sharma Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 6th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 3rd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 7th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 8th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar 5th 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. Together, the total cost for stamp duty and registration would be Rs 2,88,000. 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 more details.

Which Sub Registrar Office covers Sharma Nagar 5th Street?

The Sub Registrar Office that covers Sharma Nagar 5th 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 plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the total costs involved in the transaction. It serves as a benchmark for property valuation, helping to standardize the fees across different properties in the area.

Frequently asked questions

What is the current guideline value of Sharma Nagar 5th Street?

The current guideline value of Sharma Nagar 5th 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 477 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, showing an overall increase of +571% over this period.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Sharma Nagar 5th Street's value being above this median.

What are the stamp duty and registration fees for properties in Sharma Nagar 5th Street?

The stamp duty is charged at 7%, and the registration fee is at 2% of the guideline value. For a 1,000 sq.ft property, the total fee would be Rs 2,88,000.

Where is the Sub Registrar Office for Sharma Nagar 5th Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Sharma Nagar 5th Street.