Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Sivabootham village and falls under the Chennai South Joint I SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 333%. However, it then decreased to Rs 871 per sq.ft in 2017, which was a decline of 33%. The value saw a substantial increase to Rs 1,300 per sq.ft in 2023, followed by a further rise to the current rate of Rs 1,430 per sq.ft in 2024, reflecting a 10% increase.

There are no registered figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 377%.

Guideline values in Sivabootham

Sivabootham village has 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,120 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Dhanalakshmi Nagar is below this median.

• Chettiyar Agaram Main Road: Rs 1,650 per sq.ft (2024)
• Ganapathypuram: Rs 1,120 per sq.ft (2024)
• Bharathi Nagar: Rs 1,130 per sq.ft (2024)
• Indira Nagar: Rs 1,120 per sq.ft (2024)
• Andal Nagar: Rs 1,650 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 additional information.

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

The guideline value is a critical component during the registration process of property transactions in Sivabootham. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting 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 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, showing an overall increase of 377% over the years.

What is the registration office for Dhanalakshmi Nagar?

The registration office for Dhanalakshmi Nagar is 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.

How is stamp duty calculated for properties in Dhanalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at 7%.

What are the guideline values of other streets in Sivabootham?

Other streets in Sivabootham have varying guideline values, with rates ranging from Rs 1,120 to Rs 3,300 per sq.ft. For instance, Chettiyar Agaram Main Road has a guideline value of Rs 1,650 per sq.ft.