Guideline Value for DHARMALINGAM NAGAR

Dharmalingam Nagar guideline value

The current guideline value of Dharmalingam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Dharmalingam Nagar has changed

The guideline value for Dharmalingam Nagar has undergone several revisions since 2002. In 2002, the value was Rs 67 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a rise of 49%. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a 300% increase. By 2012, the value reached Rs 1,200 per sq.ft, which was a 200% increase from the previous revision. However, in 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, representing a 64% increase from 2017.

It is important to note that there is no figure available for the year 2023 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1870%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. The values range from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Dharmalingam Nagar is below this median.

• Dharmalingam Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Dhanm Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanm Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dilli Babu Nagar: Rs 1,320 per sq.ft (2024)
• Dhanam Nagar Palli Road: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Extension 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important 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 Dharmalingam Nagar?

The Dharmalingam Nagar area is covered 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. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Dharmalingam Nagar?

The current guideline value of Dharmalingam Nagar is Rs 1,320 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 67 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1870% over this period.

What are the stamp duty rates applicable in Dharmalingam Nagar?

The stamp duty rate in Dharmalingam Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I approach for transactions in Dharmalingam Nagar?

The Chennai South Joint I Sub Registrar Office handles transactions in Dharmalingam Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Are there other streets with similar guideline values in Pallikaranai?

Yes, there are several other streets in Pallikaranai with guideline values around Rs 1,320 per sq.ft, such as Dharmalingam Nagar Extn. and Dilli Babu Nagar, both valued at Rs 1,320 per sq.ft in 2024.