Guideline Value for DHANALAKSHMI NAGAR

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Salavakkam village under the Salavakkam SRO, is Rs 126 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Dhanalakshmi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 125 per sq.ft. This figure saw a decrease in the 2017 revision, dropping to Rs 84 per sq.ft, which represents a decline of 33%. However, from 2017 to 2023, the value increased significantly by 50%, reaching Rs 126 per sq.ft. The 2023 revision maintained the same figure, with no change to the guideline value from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 1%.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Dhanalakshmi Nagar's 2024 figure below this median.

• Dhanalakshmi Nagar Extension -I: Rs 200 per sq.ft (2024)
• Chokkamman Street: Rs 150 per sq.ft (2024)
• Chetti Street: Rs 126 per sq.ft (2024)
• Chandar Nagar Phase-I,II,III: Rs 150 per sq.ft (2024)
• Chandar Nagar Phase-4: Rs 150 per sq.ft (2024)
• Bazaar Street: Rs 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 126 per sq.ft, the total guideline value would be Rs 1,26,000. The stamp duty at 7% would amount to Rs 8,820, and the registration fee at 2% would be Rs 2,520, leading to a total of Rs 11,340. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Dhanalakshmi Nagar?

The Sub Registrar Office that covers Dhanalakshmi Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Salavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then increased to Rs 126 per sq.ft in both 2023 and 2024, reflecting a 50% increase from 2017 to 2023.

What are the guideline values of other streets in Salavakkam?

Other streets in Salavakkam have varying guideline values, with rates ranging from Rs 100 to Rs 250 per sq.ft. For example, Dhanalakshmi Nagar Extension -I is Rs 200 per sq.ft, while Chetti Street is Rs 126 per sq.ft.

What are the stamp duty and registration fees for Dhanalakshmi Nagar?

For a property in Dhanalakshmi Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 11,340.

Where is the Sub Registrar Office for Dhanalakshmi Nagar located?

The Sub Registrar Office for Dhanalakshmi Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.