Guideline Value for DHANAPAL STREET

Dhanapal Street guideline value

The current guideline value of Dhanapal Street, located in Ekkaduthangal village, is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Dhanapal Street has changed

The guideline value for Dhanapal Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 350 per sq.ft. This increased to Rs 404 per sq.ft in 2003, marking a change of +15%. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, which reflects an increase of +148%. In 2012, the guideline value was Rs 2,800 per sq.ft, showing a substantial increase of +180% from the previous revision. However, there was a decrease to Rs 1,876 per sq.ft in 2017, which was a drop of -33%.

From 2017 to 2023, the value increased to Rs 2,800 per sq.ft, indicating a rise of +49%. The most recent revision in 2024 set the guideline value at Rs 3,080 per sq.ft, which is a +10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by +780%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Dhanapal Street's 2024 figure is below this median.

• Dhanakodi Raja Street: Rs 4,620 per sq.ft (2024)
• Defence Colony Road: Rs 6,600 per sq.ft (2024)
• Damodaran Street: Rs 3,080 per sq.ft (2024)
• Duraiswamy Street: Rs 4,620 per sq.ft (2024)
• Chinnanathamman Street: Rs 3,520 per sq.ft (2024)
• Evan Salix Church Road: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanapal Street

For a 1,000 sq.ft plot at the current rate of Rs 3,080 per sq.ft, the guideline value would be Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total to Rs 2,77,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhanapal Street?

The Sub Registrar Office that covers Dhanapal Street is 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 more information.

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

The guideline value is an important factor when registering property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps both parties understand the legal valuation of the property. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Dhanapal Street?

The current guideline value of Dhanapal Street is Rs 3,080 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 350 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, reflecting an overall increase of +780% over the years.

What is the land classification of Dhanapal Street?

Dhanapal Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is currently set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dhanapal Street?

The Sub Registrar Office covering Dhanapal Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.