Guideline Value for DHARMARAJA 1ST STREET

Dharmaraja 1st Street guideline value

The current guideline value of Dharmaraja 1st Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dharmaraja 1st Street has changed

The guideline value for Dharmaraja 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,660 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 11%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the guideline value of Dharmaraja 1st Street.

• Dharmaraja 2nd Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 3rd Street: Rs 1,320 per sq.ft (2024)
• Dharmaraja 4th Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 5th Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 6th Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 7th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. 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 Dharmaraja 1st Street?

The Dharmaraja 1st Street 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 Vanagaram

The guideline value is a crucial factor during property registration in Vanagaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Dharmaraja 1st Street?

The current guideline value of Dharmaraja 1st Street is Rs 1,660 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, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Dharmaraja 1st Street?

Dharmaraja 1st Street is classified as Residential Class III Type - I.

What are the other streets in Vanagaram with similar guideline values?

Other streets in Vanagaram include Dharmaraja 2nd Street, Dharmaraja 4th Street, Dharmaraja 5th Street, Dharmaraja 6th Street, and Dharmaraja 7th Street, all of which have a guideline value of Rs 1,660 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Dharmaraja 1st Street?

The Sub Registrar Office for Dharmaraja 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.