Guideline Value for SHARMA NAGAR 8TH STREET

Sharma Nagar 8th Street guideline value

The current guideline value of Sharma Nagar 8th 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 it falls under Residential Class III Type - I land classification.

How the guideline value of Sharma Nagar 8th Street has changed

Over the years, the guideline value of Sharma Nagar 8th Street has seen significant changes. In 2003, the guideline value was Rs 477 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, followed by a decrease to Rs 2,010 per sq.ft in 2017. The value rebounded to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,200 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, there was a 49% increase, followed by a 7% increase from 2023 to 2024. The overall change from 2003 to 2024 reflects a substantial increase of 571%, highlighting the fluctuations in the guideline values over the years.

Guideline values in Perambur

In Perambur, there are a total of 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 guideline value for these streets is Rs 2,700 per sq.ft, positioning Sharma Nagar 8th Street above this median.

• Sharma Nagar 7th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 9th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 6th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 5th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar Main Road: 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 8th 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 applicable stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total cost for these fees to 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sharma Nagar 8th Street?

Sharma Nagar 8th Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sharma Nagar 8th Street?

The current guideline value of Sharma Nagar 8th 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, reflecting an overall increase of 571% over this period.

What is the stamp duty for property in Sharma Nagar 8th Street?

The stamp duty for property in Sharma Nagar 8th Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values of other streets in Perambur?

Other streets in Perambur have guideline values ranging from Rs 3,200 per sq.ft, which is the same as Sharma Nagar 8th Street, including Sharma Nagar 7th Street, 9th Street, 6th Street, 5th Street, Main Road, and 4th Street.