Guideline Value for DHANALAKSHMI AVENUE

Dhanalakshmi Avenue guideline value

The current guideline value of Dhanalakshmi Avenue is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Dhanalakshmi Avenue has changed

The guideline value for Dhanalakshmi Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 899 per sq.ft. This increased to Rs 995 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,300 per sq.ft in 2007, which was a significant increase of 31%. Following this, the value surged to Rs 6,500 per sq.ft in 2012, reflecting a remarkable 400% growth. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and finally reached Rs 7,150 per sq.ft in the 2024 revision, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 695%. There are no figures for this street in the revisions for the years not mentioned.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, indicating that Dhanalakshmi Avenue's 2024 figure is below this median.

• Devendra Nagar: Rs 7,150 per sq.ft (2024)
• Dharmambal Street: Rs 7,150 per sq.ft (2024)
• District Boag Road: Rs 11,000 per sq.ft (2024)
• Co-Operative Housing Society (Court Official): Rs 7,150 per sq.ft (2024)
• Coastal Road: Rs 12,660 per sq.ft (2024)
• Cholapuram Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000. Together, the total cost for stamp duty and registration fee would be Rs 6,43,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Avenue?

The Sub Registrar Office that covers Dhanalakshmi Avenue is 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Avenue?

The current guideline value of Dhanalakshmi Avenue is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 899 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of 695% over the years.

What is the classification of Dhanalakshmi Avenue?

Dhanalakshmi Avenue is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Dhanalakshmi Avenue?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Where is the Sub Registrar Office for Dhanalakshmi Avenue located?

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