Guideline Value for Sharma Nagar

Sharma Nagar guideline value

The current guideline value of Sharma Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Echur village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - I.

How the guideline value of Sharma Nagar has changed

The guideline value for Sharma Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 200 per sq.ft. This increased to Rs 300 per sq.ft in 2012, marking a 50% rise. However, it then decreased to Rs 201 per sq.ft in 2017, resulting in a 33% drop. The value remained at Rs 300 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 50%. The 2023 to 2024 revision shows no change, maintaining the value at Rs 300 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Echur

Echur village features 26 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 150 to Rs 300 per sq.ft. The median value is Rs 150 per sq.ft, making Sharma Nagar's 2024 figure above this median.

• Santhiamman Kovil Street: Rs 150 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Risemil Street: Rs 200 per sq.ft (2024)
• Prasanthi Nagar: Rs 300 per sq.ft (2024)
• Tharikara Street: Rs 150 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sharma Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sharma Nagar?

The Sharma Nagar area falls under the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Echur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the value of the property for these purposes, ensuring that the appropriate taxes are levied during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property registration. Understanding these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sharma Nagar?

The current guideline value of Sharma Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 300 per sq.ft in 2023 and 2024, and Rs 201 per sq.ft in 2017. The value increased from Rs 200 in 2007 to Rs 300 in 2012, then decreased to Rs 201 in 2017.

What is the land classification of Sharma Nagar?

Sharma Nagar is classified as Residential Special Type - I under the guideline value register.

Where can I find the Sunguvarchattram Sub Registrar Office?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 27,000 in stamp duty and registration fees.