Guideline Value for Sharma Layout (Main Road)

Sharma Layout (Main Road) guideline value

The current guideline value of Sharma Layout (Main Road) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sharma Layout (Main Road) has changed

The guideline value register has no figures for Sharma Layout (Main Road) for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

There have been no changes between the revisions listed above. The 2024 figure is the only available rate for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Sharma Layout (Main Road) is below this median.

• Shanthi Nagar Main road: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Shanthi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sheela Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Layout (Main Road)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, together totaling Rs 1,98,000. 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 for further assistance.

Which Sub Registrar Office covers Sharma Layout (Main Road)?

The Sub Registrar Office that covers Sharma Layout (Main Road) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees during the sale.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair amount during registration.

Frequently asked questions

What is the current guideline value of Sharma Layout (Main Road)?

The current guideline value of Sharma Layout (Main Road) is Rs 2,200 per sq.ft, effective from 1 July 2024.

Which Sub Registrar Office covers Sharma Layout (Main Road)?

The Velacheri Sub Registrar Office covers Sharma Layout (Main Road), located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Sharma Layout (Main Road)?

Stamp duty for properties in Sharma Layout (Main Road) is calculated at 7% of the guideline value or the sale price, whichever is higher.

Are there any revisions for the guideline value prior to 2024?

The guideline value register has no figures for Sharma Layout (Main Road) for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What is the land classification for Sharma Layout (Main Road)?

The land classification for Sharma Layout (Main Road) is Residential Class II Type - I.