Guideline Value for DAC MEDALLION

Dac Medallion guideline value

The current guideline value of Dac Medallion is Rs 5,400 per sq.ft, effective from 1 July 2024. This property is located in Medavakkam village under the Chennai South Joint I SRO, classified as Mixed Type - III.

How the guideline value of Dac Medallion has changed

According to the guideline value register, there have been several revisions for Dac Medallion. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 5,400 per sq.ft, and this was maintained in the 2024 revision, which also lists the value at Rs 5,400 per sq.ft, indicating no change from the previous year.

Thus, the guideline value has remained consistent at Rs 5,400 per sq.ft from 2023 to 2024, reflecting a change of +0%. The latest revision is effective from 1 July 2024, and it is important to note that this value is above the median guideline value for streets in Medavakkam.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Dac Medallion's 2024 figure significantly above this median.

• Chozhan Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dac Medallion

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value would be Rs 54,00,000. The stamp duty at 7% would amount to Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total cost together to Rs 4,86,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dac Medallion?

Dac Medallion falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Medavakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, it is essential to be aware of the guideline value as it affects the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Dac Medallion?

The current guideline value of Dac Medallion is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been no figures registered for Dac Medallion in the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 5,400 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value for streets in Medavakkam?

The median guideline value for streets in Medavakkam is Rs 2,200 per sq.ft, which is lower than the guideline value of Dac Medallion.

What fees are associated with buying property in Dac Medallion?

When buying property in Dac Medallion, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration of properties in Dac Medallion?

The registration of properties in Dac Medallion is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.