Guideline Value for SHARON NAGAR

Sharon Nagar guideline value

The current guideline value of Sharon Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This locality is situated in Marutham village and falls under the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sharon Nagar has changed

Over the years, the guideline value for Sharon Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 150 per sq.ft. The 2024 revision has maintained this rate, showing no percentage change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value from 2012 to 2024 reflect a net increase of 0% despite fluctuations in earlier years.

Guideline values in Marutham

In Marutham village, there are eight streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is equal to the 2024 figure for Sharon Nagar.

• Sri Madhu Nagar Phase -I: Rs 150 per sq.ft (2024)
• Sumathi Ammal Nagar: Rs 300 per sq.ft (2024)
• Thirupathy Nagar: Rs 100 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 300 per sq.ft (2024)
• Unnamed Layout: Rs 300 per sq.ft (2024)
• Uvs Real Estates Private Limited: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sharon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to get an estimate based on your specific property details.

Which Sub Registrar Office covers Sharon Nagar?

The Walajabad Sub Registrar Office covers Sharon Nagar, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Marutham, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Additionally, the guideline value helps in assessing the property for taxation purposes. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sharon Nagar?

The current guideline value of Sharon Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a drop to Rs 100 per sq.ft in 2017 before returning to Rs 150 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What are the other streets in Marutham and their guideline values?

Other streets in Marutham under the Walajabad SRO have guideline values ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft.

How is stamp duty calculated in Sharon Nagar?

Stamp duty in Sharon Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 150 per sq.ft incurs a stamp duty of Rs 10,500.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more details through the provided link.