Guideline Value for D.K. Nagar

D.K. Nagar guideline value

The current guideline value of D.K. Nagar, located in Maduravoyal village under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of D.K. Nagar has changed

The guideline value for D.K. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33%. The subsequent revision in 2023 raised the guideline value to Rs 2,500 per sq.ft, a substantial increase of 49% from the previous figure. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figures for D.K. Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 817%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, making D.K. Nagar's 2024 figure below that median.

• Double Tank Road Nagar: Rs 2,200 per sq.ft (2024)
• Dhanalaksmi Nagar Part II: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in D.K. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers D.K. Nagar?

The Sub Registrar Office that covers D.K. Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Maduravoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to assess the value of the property, ensuring that the transaction is recorded at a fair value as per government regulations.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are accurately documented and taxed appropriately.

Frequently asked questions

What is the current guideline value of D.K. Nagar?

The current guideline value of D.K. Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 817% over the years.

What is the land classification of D.K. Nagar?

D.K. Nagar falls under the Residential Class IV Type - I land classification.

What are the stamp duty and registration fees for property in D.K. Nagar?

For a 1,000 sq.ft property, the total guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for D.K. Nagar?

The Virugambakkam Sub Registrar Office handles registrations for D.K. Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.