Guideline Value for SHARMA NAGAR LAYOUT

Sharma Nagar Layout guideline value

The current guideline value of Sharma Nagar Layout in Arakkampakkam village, under the Avadi SRO, is Rs 330 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sharma Nagar Layout has changed

The guideline value of Sharma Nagar Layout has seen several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 201 per sq.ft. This increased to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Arakkampakkam

In Arakkampakkam, five streets under the Avadi SRO carry a 2024 guideline value ranging from Rs 330 to Rs 385 per sq.ft, with a median value of Rs 385 per sq.ft. Sharma Nagar Layout's 2024 figure is below this median.

• Sri Balaji Nagar: Rs 385 per sq.ft (2024)
• K.J.A. Garden Annex - I: Rs 385 per sq.ft (2024)
• Chozhan Nagar: Rs 330 per sq.ft (2024)
• Arakathamman Nagar: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar Layout

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value would be Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total costs together to Rs 29,700. 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 Layout?

The Sharma Nagar Layout falls under the jurisdiction of the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Arakkampakkam. It is used to determine the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sharma Nagar Layout?

The current guideline value for Sharma Nagar Layout is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the registration office for Sharma Nagar Layout?

The Avadi Sub Registrar Office covers Sharma Nagar Layout, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Sharma Nagar Layout?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 29,700.

What are the guideline values of other streets in Arakkampakkam?

Other streets in Arakkampakkam have varying guideline values. For instance, Sri Balaji Nagar and K.J.A. Garden Annex - I have a guideline value of Rs 385 per sq.ft, while Chozhan Nagar matches Sharma Nagar Layout at Rs 330 per sq.ft.