Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar is Rs 160 per sq.ft, effective from 1 July 2024. This area falls under Vellacheri village and is registered with the Avadi SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 160 per sq.ft, an increase from Rs 150 per sq.ft in 2023, marking a change of +7%. Prior to that, the 2017 revision recorded a value of Rs 100 per sq.ft, reflecting a significant increase of +50% from the 2017 to 2023 period. The overall change from 2017 to 2024 is +60%.

It is important to note that there are no recorded figures for Dhanalakshmi Nagar in the revisions of 2012, 2007, 2003, and 2002. This indicates that the guideline value for these years is not available in the register.

Guideline values in Vellacheri

While specific village figures are not provided, Dhanalakshmi Nagar is part of the Vellacheri locality. Currently, there are no other streets in Vellacheri listed under the Avadi SRO.

Stamp duty and registration fee for property in Dhanalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 160 per sq.ft, the total guideline value amounts to Rs 1,60,000. The stamp duty at 7% would be Rs 11,200, and the registration fee at 2% would be Rs 3,200, totaling Rs 14,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Nagar?

The Sub Registrar Office that covers Dhanalakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vellacheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 160 per sq.ft in 2024, showing an overall increase of +60% over the seven years.

What are the stamp duty and registration fees for properties in Dhanalakshmi Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 14,400.

Where is the Avadi SRO located?

The Avadi SRO is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for Dhanalakshmi Nagar?

Dhanalakshmi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.