Guideline Value for DHANAM NAGAR PALLI 2ND CROSS STREET

Dhanam Nagar Palli 2nd Cross Street guideline value

The current guideline value for Dhanam Nagar Palli 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dhanam Nagar Palli 2nd Cross Street has changed

The guideline value for Dhanam Nagar Palli 2nd Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, the most recent revision in 2024 has increased the value to Rs 1,650 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 10%.

It is important to note that there are no guideline value figures available for the years 2002, 2003, 2007, and 2023 for this street. The changes between the revisions show a decrease of 33% from 2012 to 2017, followed by the increase to the current rate.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Dhanam Nagar Palli 2nd Cross Street.

• Dhanam Nagar: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli 3rd Street: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Extension 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Road: Rs 1,650 per sq.ft (2024)
• Dhanm Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanm Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanam Nagar Palli 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanam Nagar Palli 2nd Cross Street?

The Sub Registrar Office that covers Dhanam Nagar Palli 2nd Cross Street is the Chennai South Joint I Sub Registrar Office. The address is Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is crucial to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value for Dhanam Nagar Palli 2nd Cross Street?

The current guideline value for Dhanam Nagar Palli 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024 and a 10% increase overall from 2012 to 2024.

What is the land classification for Dhanam Nagar Palli 2nd Cross Street?

The land classification for Dhanam Nagar Palli 2nd Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,48,500.

Which office handles the registration for Dhanam Nagar Palli 2nd Cross Street?

The registration for Dhanam Nagar Palli 2nd Cross Street is handled 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.