Guideline Value for Sharmila Nagar

Sharmila Nagar guideline value

The current guideline value of Sharmila Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sharmila Nagar has changed

The guideline value for Sharmila Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased dramatically to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, the value decreased to Rs 1,407 per sq.ft in 2017, reflecting a decline of 33%. The next revision in 2023 brought the value up to Rs 2,100 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,310 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the guideline value of Sharmila Nagar.

• Shanthi Nagar: Rs 5,500 per sq.ft (2024)
• Shoba Windsor Castle: Rs 2,575 per sq.ft (2024)
• Shobha Emerald: Rs 2,970 per sq.ft (2024)
• Shansu Avenue: Rs 2,640 per sq.ft (2024)
• Shriprop Properties - G.S.T. Road: Rs 4,930 per sq.ft (2024)
• Seshadri Paradise: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Sharmila Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would amount to Rs 46,200. Together, these fees would total Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sharmila Nagar?

The Sub Registrar Office that covers Sharmila Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. It is essential to be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Sharmila Nagar?

The current guideline value of Sharmila Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824%.

What are the stamp duty rates for properties in Sharmila Nagar?

The stamp duty for properties in Sharmila Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sharmila Nagar located?

The Padappai Sub Registrar Office, which covers Sharmila Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sharmila Nagar?

Sharmila Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.