Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

Over the years, the guideline value of Dhanalakshmi Nagar has undergone several revisions. The earliest recorded value was Rs 1,200 per sq.ft in 2012. This figure then decreased to Rs 804 per sq.ft in 2017, followed by an increase to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects an 8% increase, resulting in an overall increase of 8% from 2012 to 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, positioning Dhanalakshmi Nagar's 2024 value below that median.

• Devi Ngar: Rs 2,100 per sq.ft (2024)
• Collector Nagar/Streets (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Chockalingam Street: Rs 1,600 per sq.ft (2024)
• Chetty Street: Rs 2,700 per sq.ft (2024)
• Chennai -Thiruvallur High Road (M.T.H Road) (T.V.S. Group Of Companies): Rs 8,200 per sq.ft (2024)
• Chennai - Thiruvallur High Road (M.T.H Road): Rs 8,200 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Korattur, the guideline value serves as a benchmark for determining the stamp duty and registration fees. The value is set by the Registration Department and is regularly revised to reflect changes in the real estate market.

At the time of registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price of the property. This ensures that the government receives appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting at Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, and then increasing to Rs 1,200 per sq.ft in 2023, before reaching Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, with Dhanalakshmi Nagar's value being below this median.

What are the stamp duty rates for property in Dhanalakshmi Nagar?

The stamp duty for property in Dhanalakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2%.

Where is the Sub Registrar Office located for Dhanalakshmi Nagar?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.