Guideline Value for DHANALAKSHMI COLONY

Dhanalakshmi Colony guideline value

The current guideline value of Dhanalakshmi Colony, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,160 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Dhanalakshmi Colony has changed

The guideline value of Dhanalakshmi Colony has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change is an increase of 8%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is equal to the guideline value of Dhanalakshmi Colony.

• Dhanalakshmi Street: Rs 2,160 per sq.ft (2024)
• Dhanalakshmi Street (Extn.): Rs 2,160 per sq.ft (2024)
• Durai Pandian Street: Rs 2,160 per sq.ft (2024)
• Durairagubathi Street: Rs 2,160 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Chozan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, resulting in a total of Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dhanalakshmi Colony?

The Sub Registrar Office that covers Dhanalakshmi Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the authorities will assess the guideline value to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Colony?

The current guideline value of Dhanalakshmi Colony is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Dhanalakshmi Colony?

Dhanalakshmi Colony falls under the Residential Class II Type - I land classification.

Where can I find the registration office for Dhanalakshmi Colony?

The registration office for Dhanalakshmi Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for property in Dhanalakshmi Colony?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 21,60,000, leading to a stamp duty of Rs 1,51,200.