Guideline Value for Sharmila St

Sharmila St guideline value

The current guideline value of Sharmila St in Chitlapakkam village is Rs 3,850 per sq.ft, effective from 1 July 2024. This falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Sharmila St has changed

Sharmila St has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it dropped to Rs 2,345 per sq.ft. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,850 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value across these streets is Rs 1,650 per sq.ft, placing Sharmila St's 2024 figure above this median.

• Sharangapani Street: Rs 1,320 per sq.ft (2024)
• Shaw Wallas avenue: Rs 2,750 per sq.ft (2024)
• Shaw Wallas Colony: Rs 2,750 per sq.ft (2024)
• Shanthi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Shanthi Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sharmila St

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Sharmila St?

The Sub Registrar Office that covers Sharmila St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

Frequently asked questions

What is the current guideline value of Sharmila St?

The current guideline value of Sharmila St is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49%, while it decreased from Rs 3,500 to Rs 2,345 per sq.ft between 2012 and 2017.

What is the land classification of Sharmila St?

Sharmila St is classified as Residential Special Type - II, which indicates its specific use and zoning regulations within the area.

What are the stamp duty and registration fees for property in Sharmila St?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for Sharmila St located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.