Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Manapakkam village under the Chennai South Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Dhanalakshmi Nagar's 2024 figure is below this median.

• Dharmarajapuram: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 1st Main Road: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 1st Street (Lane): Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 2nd Street Lane: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 3rd Lane: Rs 1,100 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 2,200 per sq.ft, the total guideline value would be 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 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 falls under 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 Manapakkam

The guideline value is a crucial factor during property registration in Manapakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable on the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This process helps in maintaining transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 340% over the years.

What is the land classification for Dhanalakshmi Nagar?

Dhanalakshmi Nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Dhanalakshmi Nagar?

The Sub Registrar Office for Dhanalakshmi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value, which for a 1,000 sq.ft plot at the current rate would total Rs 1,98,000, including stamp duty and registration fees.