Guideline Value for SHARMA NAGAR MAIN ROAD

Sharma Nagar Main Road guideline value

The current guideline value of Sharma Nagar Main Road is Rs 3,200 per sq.ft, as per the 2024 revision effective from 1 July 2024. This road is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sharma Nagar Main Road has changed

The guideline value for Sharma Nagar Main Road has seen several revisions over the years. Starting from Rs 477 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, then saw a significant jump to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision brought it back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,200 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

In terms of percentage changes, from 2003 to 2007, the value increased by 5%. From 2007 to 2012, it saw a remarkable increase of 500%. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, from 2023 to 2024, it rose by 7%. Overall, the guideline value from 2003 to 2024 has increased by 571%.

Guideline values in Perambur

In Perambur village, the guideline values range from Rs 1,600 to Rs 7,100 per sq.ft as per the 2024 revision, with a median value of Rs 2,700 per sq.ft. The guideline value for Sharma Nagar Main Road is above this median.

• Sharma Nagar 9th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 8th Street: Rs 3,200 per sq.ft (2024)
• Sharma Nagar 7th 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 4th Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar Main Road

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, 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 duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sharma Nagar Main Road?

The Sub Registrar Office that covers Sharma Nagar Main Road 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 serves as a benchmark for property transactions in Perambur. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation of the property.

Additionally, the guideline value is crucial for the registration process at the Sub Registrar Office, as it helps determine the legal documentation and compliance required for the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sharma Nagar Main Road?

The current guideline value of Sharma Nagar Main Road 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, marking an overall increase of 571% over this period.

What is the land classification for Sharma Nagar Main Road?

The land classification for Sharma Nagar Main Road is Residential Class III Type - I.

What are the stamp duty and registration fees for property in Sharma Nagar Main Road?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 32,00,000, the total fees would amount to Rs 2,88,000.

Which office handles property registration for Sharma Nagar Main Road?

The Purasaivakkam Sub Registrar Office handles property registration for Sharma Nagar Main Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.