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 street is located in Echur_B 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 seen several revisions over the years. From the 2017 revision, which was Rs 201 per sq.ft, it increased by 49% to Rs 300 per sq.ft in the 2023 revision, and has remained unchanged at Rs 300 per sq.ft in the 2024 revision, reflecting a 0% change from 2023 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the current 2024 figure, there has been a 49% increase. The 2024 guideline value of Rs 300 per sq.ft is significantly higher than the previous revisions, indicating a stable valuation since 2023.

Guideline values in Echur_B

In Echur_B, there are 26 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 300 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Sharma Nagar's 2024 figure above that 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 guideline value of Rs 300 per sq.ft, the total 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, making the total charges Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sharma Nagar?

The Sub Registrar Office that covers Sharma Nagar is 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_B

The guideline value is a critical factor in the registration process when buying or selling property in Echur_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 remained at Rs 300 per sq.ft from the 2023 revision to the 2024 revision, with a 49% increase from Rs 201 per sq.ft in 2017.

What is the land classification of Sharma Nagar?

Sharma Nagar is classified as Residential Special Type - I under the Sunguvarchattram SRO.

Where can I find the Sub Registrar Office for Sharma Nagar?

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.