Guideline Value for DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371)

DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371) guideline value

The current guideline value for DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371) has changed

The guideline value for DHANALAKSHMI NAGAR - Chokkalinga Street has undergone several revisions over the years. Starting from Rs 317 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, then saw a significant jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before rising to Rs 2,000 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes in guideline value from 2003 to 2024 show an overall increase of 594%. The revisions without figures for this street include the year 2002, where the register has no figure for this street in it.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value for DHANALAKSHMI NAGAR - Chokkalinga Street.

• DHANALAKSHMI NAGAR - E.V.R. Periyar Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR Annexe: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR Extension - Anna Main Road: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR - Ganapathi Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR 4th Cross Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 NAGAR - Chokkalinga Street (S.No 371)?

The Sub Registrar Office that covers DHANALAKSHMI NAGAR - Chokkalinga Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government collects the appropriate taxes based on the value of the transaction.

Frequently asked questions

What is the current guideline value for DHANALAKSHMI NAGAR - Chokkalinga Street?

The current guideline value for DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 317 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 594% across the years.

What is the land classification for this street?

The land classification for DHANALAKSHMI NAGAR - Chokkalinga Street is Residential Class IV Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.