Guideline Value for DHANALAKSHMI NAGAR 1ST STREET

Dhanalakshmi Nagar 1st Street guideline value

The current guideline value of Dhanalakshmi Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dhanalakshmi Nagar 1st Street has changed

The guideline value for Dhanalakshmi Nagar 1st Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then rose again to the current rate of Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Dhanalakshmi Nagar 1st Street is below this median.

• Dhanalakshmi Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar Annexe: Rs 1,320 per sq.ft (2024)
• Devi Karumari Amman Nagar: Rs 1,320 per sq.ft (2024)
• Doss Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Nagar 1st Street?

The Dhanalakshmi Nagar 1st Street falls under 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, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for determining the minimum value at which properties can be registered in Kolathuvancheri. When buying or selling property, this value is crucial for calculating the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of property transactions. The registration office uses this value to ensure that properties are not sold for less than the established guideline value.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 1st Street?

The current guideline value of Dhanalakshmi Nagar 1st Street 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Dhanalakshmi Nagar 1st Street?

The land classification for Dhanalakshmi Nagar 1st Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800 based on the current guideline value of Rs 1,320 per sq.ft.

Where can I find the Sub Registrar Office for Dhanalakshmi Nagar 1st Street?

The Sub Registrar Office covering Dhanalakshmi Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.