Guideline Value for Sharma Nagar

Sharma Nagar guideline value

The current guideline value of Sharma Nagar, located in Kanthoor village under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sharma Nagar has changed

The guideline value for Sharma Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision marked a decrease to Rs 167 per sq.ft, followed by a return to Rs 250 per sq.ft in the 2024 revision, resulting in a 50% increase from 2017 to 2023, while the overall change from 2012 to 2024 is 0%.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. This lack of data means we cannot assess any changes or trends for those years.

Guideline values in Kanthoor

In Kanthoor, there are 33 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, placing Sharma Nagar's 2024 figure above this median.

• Small Street: Rs 150 per sq.ft (2024)
• School Street: Rs 181 per sq.ft (2024)
• Road Street: Rs 200 per sq.ft (2024)
• Sri Sai Nagar: Rs 700 per sq.ft (2024)
• ThideerKuppam: Rs 150 per sq.ft (2024)
• Periya 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sharma Nagar?

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

You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Kanthoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the registration process. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration of their property.

Frequently asked questions

What is the current guideline value of Sharma Nagar?

The current guideline value of Sharma Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012 and 2023, decreased to Rs 167 per sq.ft in 2017, and returned to Rs 250 per sq.ft in 2024. The overall change from 2012 to 2024 is 0%.

What are the stamp duty and registration fees for properties in Sharma Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 22,500.

Which Sub Registrar Office covers Sharma Nagar?

The Sunguvarchattram Sub Registrar Office covers Sharma Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram.

What is the land classification for Sharma Nagar?

The land classification for Sharma Nagar is Residential Special Type - II, indicating its designated use for residential purposes.