Guideline Value for sarma nagar 3rd street

Sarma Nagar 3rd Street guideline value

The current guideline value of Sarma Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

How the guideline value of Sarma Nagar 3rd Street has changed

Over the years, the guideline value of Sarma Nagar 3rd Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was later reduced to Rs 2,680 per sq.ft in the 2017 revision. Following that, the value increased to Rs 4,000 per sq.ft in the 2023 revision, and finally to Rs 4,400 per sq.ft in the 2024 revision. The register has no figure for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, making the 2024 figure for Sarma Nagar 3rd Street above this median.

• Sarma Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Sarma Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Sarmaingala Nagar 2nd Santhu: Rs 2,750 per sq.ft (2024)
• Sarmaingala Nagar 1st Santhu: Rs 2,750 per sq.ft (2024)
• Sarvamangala Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Sarvamangala Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarma Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost Rs 3,96,000. 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 accurate calculations.

Which Sub Registrar Office covers Sarma Nagar 3rd Street?

The Sarma Nagar 3rd Street falls under 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 details.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sarma Nagar 3rd Street?

The current guideline value of Sarma Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Sarma Nagar 3rd Street?

Sarma Nagar 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Tambaram Joint 1 SRO located?

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

How is stamp duty calculated for properties in Sarma Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.