Guideline Value for DHANALAKSHMI NAGAR 3rd Cross Street

DHANALAKSHMI NAGAR 3rd Cross Street guideline value

The current guideline value of DHANALAKSHMI NAGAR 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of DHANALAKSHMI NAGAR 3rd Cross Street has changed

The guideline value for DHANALAKSHMI NAGAR 3rd Cross Street has seen several revisions over the years. In 2003, the value was Rs 298 per sq.ft, which increased to Rs 400 per sq.ft in 2007, marking a significant rise of 34%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value continued to rise to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 638%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which is the same as the current value for DHANALAKSHMI NAGAR 3rd Cross Street.

• DHANALAKSHMI NAGAR 4th Cross Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR 1st Cross Street: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR Annexe: Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR - Chokkalinga Street (S.No 371): Rs 2,200 per sq.ft (2024)
• DHANALAKSHMI NAGAR - E.V.R. Periyar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in DHANALAKSHMI NAGAR 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and 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 and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers DHANALAKSHMI NAGAR 3rd Cross Street?

The Sub Registrar Office that covers DHANALAKSHMI NAGAR 3rd Cross 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 in property transactions in Nerkundram. When buying or selling property, this value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction. It ensures that the government receives the appropriate revenue based on the property's assessed value.

During the registration process, the guideline value serves as a benchmark for pricing. Buyers and sellers must be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government collects adequate fees based on the property's worth.

Frequently asked questions

What is the current guideline value of DHANALAKSHMI NAGAR 3rd Cross Street?

The current guideline value of DHANALAKSHMI NAGAR 3rd Cross Street 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 298 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 638% over the years.

What is the land classification for DHANALAKSHMI NAGAR 3rd Cross Street?

The land classification for DHANALAKSHMI NAGAR 3rd Cross Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for DHANALAKSHMI NAGAR 3rd Cross Street located?

The Sub Registrar Office for DHANALAKSHMI NAGAR 3rd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Nerkundram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.