Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Chettiyaragaram village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, the value rose significantly by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Dhanalakshmi Nagar's 2024 figure below this median.

• Chettiyar Agaram Main Road: Rs 2,420 per sq.ft (2024)
• Chettiyar Agaram 1st Street: Rs 2,420 per sq.ft (2024)
• Erikarai Street: Rs 1,210 per sq.ft (2024)
• Fomra: Rs 4,400 per sq.ft (2024)
• Iswarya Nagar: Rs 1,650 per sq.ft (2024)
• Murthy Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhanalakshmi Nagar?

Dhanalakshmi Nagar is covered by 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. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Chettiyaragaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is registered, the guideline value is compared with 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 value of the property being transferred.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Chettiyaragaram?

The median guideline value in Chettiyaragaram for 2024 is Rs 2,200 per sq.ft, with Dhanalakshmi Nagar's value being below this median.

What are the stamp duty rates for property in Dhanalakshmi Nagar?

The stamp duty for property transactions in Dhanalakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Dhanalakshmi Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Dhanalakshmi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.