Guideline Value for DHARANI NAGAR

Dharani Nagar guideline value

The current guideline value of Dharani Nagar, located in Madurabakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Dharani Nagar has changed

The guideline value for Dharani Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 7%.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The 2024 revision shows a 49% increase from the 2017 figure, indicating a substantial rise in the guideline value over the recent years.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value is Rs 1,600 per sq.ft, which is the same as the current guideline value for Dharani Nagar.

• Devi Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Dr.RAGINI CITY: Rs 1,600 per sq.ft (2024)
• Green Castle Avenue: Rs 1,600 per sq.ft (2024)
• Arivalayam Street: Rs 1,600 per sq.ft (2024)
• Amogha: Rs 2,200 per sq.ft (2024)
• Kamatchi Nagr: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dharani Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your specific property details.

Which Sub Registrar Office covers Dharani Nagar?

The Sub Registrar Office that covers Dharani Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and the final sale price. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Dharani Nagar?

The current guideline value of Dharani Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a peak of Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, then rising to Rs 1,600 per sq.ft in 2024.

What is the land classification for Dharani Nagar?

Dharani Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

How is the stamp duty calculated for properties in Dharani Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.