Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Kolathuvancheri village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 500 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 140%. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, followed by a further rise to Rs 1,320 per sq.ft in the 2024 revision, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Dhanalakshmi Nagar's 2024 figure below this 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 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar Annexe: Rs 1,320 per sq.ft (2024)
• Devi Karumari Amman Nagar: Rs 1,320 per sq.ft (2024)
• Doss Avenue: Rs 990 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 1,320 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 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Nagar?

The Dhanalakshmi Nagar area 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 details.

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

The guideline value plays a crucial role in the property registration process in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is essential for calculating the costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher, making it vital to understand the current rates.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar 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 changed significantly, from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, with Dhanalakshmi Nagar's 2024 figure being below this median.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

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.