Guideline Value for DHANALAKSHMI NAGAR EXTENSION -I

Dhanalakshmi Nagar Extension -I guideline value

The current guideline value of Dhanalakshmi Nagar Extension -I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Salavakkam village and falls under the Salavakkam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Dhanalakshmi Nagar Extension -I has changed

The guideline value for Dhanalakshmi Nagar Extension -I has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 134 per sq.ft in the 2017 revision. This marked a significant decrease of 67%. Following this, the 2023 revision maintained the value at Rs 200 per sq.ft, with no change from the 2024 revision, which also set it at Rs 200 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 to the 2023 revision, there was an increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has decreased by 50%, reflecting the fluctuations in property valuation in this area.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO with a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, placing Dhanalakshmi Nagar Extension -I above this median at Rs 200 per sq.ft.

• Dhanalakshmi Nagar: Rs 126 per sq.ft (2024)
• Chokkamman Street: Rs 150 per sq.ft (2024)
• Chetti Street: Rs 126 per sq.ft (2024)
• Chandar Nagar Phase-I,II,III: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Bazaar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar Extension -I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Nagar Extension -I?

The Dhanalakshmi Nagar Extension -I is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Salavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is consistent and transparent.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar Extension -I?

The current guideline value of Dhanalakshmi Nagar Extension -I is Rs 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 400 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the median guideline value in Salavakkam?

The median guideline value for streets in Salavakkam is Rs 150 per sq.ft, with Dhanalakshmi Nagar Extension -I above this median at Rs 200 per sq.ft.

What are the stamp duty rates applicable in Dhanalakshmi Nagar Extension -I?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Which office handles registrations for Dhanalakshmi Nagar Extension -I?

The Salavakkam Sub Registrar Office handles registrations for Dhanalakshmi Nagar Extension -I, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.