Guideline Value for DHANAPAL STREET

Dhanapal Street guideline value

The current guideline value of Dhanapal Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dhanapal Street has changed

The guideline value for Dhanapal Street has seen significant changes over the years. In the 2002 revision, the value was Rs 557 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking an 80% rise. The value then rose to Rs 1,500 per sq.ft in 2007, a 50% increase. Following this, the 2012 revision saw a substantial jump to Rs 6,000 per sq.ft, reflecting a 300% increase. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,085%. The register has no figure for the years between 2017 and 2023.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value among these streets is Rs 6,600 per sq.ft, which is the same as the current guideline value for Dhanapal Street.

• Dharmaraja Koil Lane: Rs 5,000 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 7,700 per sq.ft (2024)
• Devanathan Colony: Rs 6,600 per sq.ft (2024)
• C.I.T.NAGAR THIRD MAIN ROAD II nd STREET: Rs 7,700 per sq.ft (2024)
• C.I.T. Nagar Third Main Road: Rs 12,100 per sq.ft (2024)
• C.I.T. Nagar Third Lane: Rs 7,700 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 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanapal Street?

The Sub Registrar Office that covers Dhanapal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties adhere to the legal requirements set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Dhanapal Street?

The current guideline value of Dhanapal Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 557 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1,085%.

What is the land classification for Dhanapal Street?

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

What are the other streets in Mambalam with their guideline values?

Other streets in Mambalam include Dharmaraja Koil Lane at Rs 5,000 per sq.ft, Dharmaraja Koil Street at Rs 7,700 per sq.ft, and Devanathan Colony at Rs 6,600 per sq.ft, among others.

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

The Sub Registrar Office for Dhanapal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.