Guideline Value for DHANALAKSHMI NAGAR 2ND CROSS STREET

Dhanalakshmi Nagar 2nd Cross Street guideline value

The current guideline value of Dhanalakshmi Nagar 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Dhanalakshmi Nagar 2nd Cross Street has changed

The guideline value for Dhanalakshmi Nagar 2nd Cross Street has undergone several revisions over the years. The earliest registered figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The guideline value then increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between 2012 and 2024, the overall change in the guideline value is an increase of 10%. The changes from 2017 to 2023 show a notable increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,660 per sq.ft, placing the 2024 figure for Dhanalakshmi Nagar 2nd Cross Street below that median.

• Dhanalakshmi Nagar 1st 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)
• Dhanalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 2nd Cross Street

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, bringing the total fees to 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dhanalakshmi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Dhanalakshmi Nagar 2nd Cross Street 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, 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 Vanagaram

The guideline value is a crucial factor in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 2nd Cross Street?

The current guideline value of Dhanalakshmi Nagar 2nd Cross 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 seen several changes: it was Rs 1,200 per sq.ft in 2012, dropped to Rs 804 per sq.ft in 2017, increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,320 per sq.ft in 2024.

What is the land classification for Dhanalakshmi Nagar 2nd Cross Street?

Dhanalakshmi Nagar 2nd Cross Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Dhanalakshmi Nagar 2nd Cross Street?

The Sub Registrar Office for Dhanalakshmi Nagar 2nd Cross Street 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,18,800.