Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Vanagaram 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 - II.

How the guideline value of Dhanalakshmi Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 204 per sq.ft, which increased to Rs 235 per sq.ft in 2003, marking a 15% rise. The value then saw a substantial increase to Rs 500 per sq.ft in 2007, which was a 113% change. By 2012, the value was Rs 1,200 per sq.ft, reflecting a 140% increase from the previous revision. However, in 2017, the value dropped to Rs 804 per sq.ft, indicating a decrease of 33%. The upward trend resumed in 2023 with a value of Rs 1,200 per sq.ft, which then increased to Rs 1,320 per sq.ft in 2024, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 547%. There are no figures available for the revisions in years other than those specified above.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Dhanalakshmi Nagar's current guideline value below this median.

• Dhanalakshmi Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar Annex: Rs 1,320 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 amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together 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?

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 further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, based on the established guideline value for the area.

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 204 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 547% over the years.

What is the registration office for 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.

How is the stamp duty calculated for properties in Dhanalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 92,400.

What are the guideline values of other streets in Vanagaram?

Other streets in Vanagaram have varying guideline values. For instance, Dhanalakshmi Nagar 1st Street, 2nd Cross Street, 2nd Street, Dhanalakshmi Avenue, and Dhanalakshmi Nagar Annex all have a guideline value of Rs 1,320 per sq.ft, while Dhanalakshmi Nagar 3rd Street has a value of Rs 1,660 per sq.ft.