Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Nallur village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 saw another increase, bringing the value to Rs 440 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nallur

In Nallur, there are 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. Dhanalakshmi Nagar's 2024 guideline value is below this median.

• Chengalamman Nagar Annex: Rs 440 per sq.ft (2024)
• Chelliamman Nagar: Rs 440 per sq.ft (2024)
• Chelliamman Koil Street: Rs 550 per sq.ft (2024)
• Chelliamman Koil 2nd Cross Street: Rs 550 per sq.ft (2024)
• Chelliamman Koil 1st Cross Street: Rs 550 per sq.ft (2024)
• Gnt Road: Rs 1,650 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhanalakshmi Nagar?

The Sub Registrar Office covering Dhanalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nallur. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

When purchasing property, the guideline value is considered the minimum value for registration purposes. This means that if the sale price of the property is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 268 per sq.ft to Rs 440 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Dhanalakshmi Nagar?

The registration office for Dhanalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Nallur with similar guideline values?

Other streets in Nallur with similar guideline values include Chengalamman Nagar Annex and Chelliamman Nagar, both at Rs 440 per sq.ft in 2024.

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

Stamp duty for properties in Dhanalakshmi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 30,800.