Guideline Value for DHARMARAJA 2ND STREET

Dharmaraja 2nd Street guideline value

The current guideline value of Dharmaraja 2nd Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dharmaraja 2nd Street has changed

Over the years, the guideline value of Dharmaraja 2nd Street has seen several revisions. The earliest recorded revision was in 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease in 2017 to Rs 1,005 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and in 2024, it further rose to Rs 1,660 per sq.ft, reflecting an increase of 11% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 11%. The 2023 to 2024 revision shows an increase of 11%, while the 2017 to 2023 revision indicates a significant rise of 49%. The register has no figures for the years 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 have a guideline value for 2024, 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 current guideline value of Dharmaraja 2nd Street.

• Dharmaraja 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,49,400. Please 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 more details.

Which Sub Registrar Office covers Dharmaraja 2nd Street?

The Sub Registrar Office that covers Dharmaraja 2nd 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 Vanagaram

The guideline value is a critical component in the registration process for property transactions in Vanagaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dharmaraja 2nd Street?

The current guideline value of Dharmaraja 2nd 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 11%.

What is the land classification of Dharmaraja 2nd Street?

Dharmaraja 2nd Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Dharmaraja 2nd Street?

The stamp duty for properties in Dharmaraja 2nd Street is charged at 7% of the guideline value or sale price, whichever is higher. There is also a registration fee of 2% applicable.

Which office handles property registrations for Dharmaraja 2nd Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Dharmaraja 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.