Guideline Value for Sharma Nagar

Sharma Nagar guideline value

The current guideline value of Sharma Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Sokandi village under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Sharma Nagar has changed

Looking at the revisions, the guideline value for Sharma Nagar was Rs 250 per sq.ft in both the 2023 and 2024 revisions. In the 2017 revision, the guideline value was Rs 167 per sq.ft, indicating a 50% increase to the 2023 figure. The 2012 revision also had a value of Rs 250 per sq.ft, which represents a decrease of 33% from the 2017 figure. Overall, from the 2012 revision to the 2024 revision, there has been no change in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision marked a return to the Rs 250 per sq.ft value that was also established in that year.

Guideline values in Sokandi

In Sokandi, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which means that Sharma Nagar's 2024 guideline value is below that median.

• SelvaPuram Part-II: Rs 300 per sq.ft (2024)
• Selvapuram Part-I: Rs 300 per sq.ft (2024)
• Selvapuram Nagar Ext: Rs 600 per sq.ft (2024)
• Selvapuram: Rs 300 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)
• Sri devi teak garden: Rs 250 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 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. Please note that 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 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Sokandi. It is used to determine the stamp duty and registration fees payable when buying or selling property. The guideline value is considered the minimum value for registration purposes, ensuring that all transactions are recorded at a fair value.

When you decide to buy or sell property in Sharma Nagar or any other street in Sokandi, the guideline value will be referenced to calculate the applicable fees. This ensures transparency and consistency in property transactions within the region.

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 seen various changes, with the most recent figures being Rs 250 per sq.ft in both 2023 and 2024, and Rs 167 per sq.ft in 2017. There was a 50% increase from 2017 to 2023.

What is the land classification of Sharma Nagar?

Sharma Nagar is classified as Residential Special Type - III, which is relevant for determining the guideline value and applicable regulations.

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 guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.