Guideline Value for DHANALAKSHMI AVENUE

Dhanalakshmi Avenue guideline value

The current guideline value of Dhanalakshmi Avenue in Vanagaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Dhanalakshmi Avenue has changed

The guideline value for Dhanalakshmi Avenue has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, in 2017, it dropped to Rs 804 per sq.ft before rising again to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was a significant 140%. Overall, from 2007 to 2024, the guideline value has increased by 164%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median of Rs 1,660 per sq.ft. Dhanalakshmi Avenue's current figure is below this median.

• Dhanalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Dhanalakshmi Nagar Annex: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. 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 details.

Which Sub Registrar Office covers Dhanalakshmi Avenue?

Dhanalakshmi Avenue is covered 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Vanagaram. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration process reflects a fair valuation based on government assessments.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Avenue?

The current guideline value of Dhanalakshmi Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 164% over the years.

What are the other streets in Vanagaram with similar guideline values?

Other streets in Vanagaram with a guideline value of Rs 1,320 per sq.ft include Dhanalakshmi Nagar, Dhanalakshmi Nagar 1st Street, Dhanalakshmi Nagar 2nd Cross Street, Dhanalakshmi Nagar 2nd Street, and Dhanalakshmi Nagar Annex.

Where can I find the registration office for Dhanalakshmi Avenue?

The registration office covering 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.

How is stamp duty calculated for properties in Dhanalakshmi Avenue?

Stamp duty for properties in Dhanalakshmi Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property, the total guideline value would be Rs 13,20,000, leading to a stamp duty of Rs 92,400 at 7%.