Guideline Value for DAD Quarters

DAD Quarters guideline value

The current guideline value of DAD Quarters in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of DAD Quarters has changed

The guideline value for DAD Quarters has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it to Rs 3,850 per sq.ft.

From the 2017 to 2023 revision, there was a significant increase of 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The current guideline value for DAD Quarters is equal to the median value of Rs 3,850 per sq.ft.

• Defence Colony Road: Rs 4,400 per sq.ft (2024)
• Defence Colony Street: Rs 4,400 per sq.ft (2024)
• Contonment Lane: Rs 3,850 per sq.ft (2024)
• Chittibabu Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)
• Chittibabu Street: Rs 3,300 per sq.ft (2024)
• Chinna Mudali Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in DAD Quarters

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value is 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers DAD Quarters?

The DAD Quarters area is covered by the Chennai South Joint II 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 Parangimalai

The guideline value is a crucial factor in property transactions in Parangimalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of DAD Quarters?

The current guideline value of DAD Quarters 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 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for DAD Quarters?

DAD Quarters is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for DAD Quarters?

The Sub Registrar Office for DAD Quarters is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in DAD Quarters?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.