Guideline Value for DHARMARAJA 7TH STREET

Dharmaraja 7th Street guideline value

The current guideline value of Dharmaraja 7th 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 7th Street has changed

The guideline value for Dharmaraja 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,660 per sq.ft, an increase of 11% from the previous year.

It is important to note that there are no available figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

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 guideline value for these streets is Rs 1,660 per sq.ft, which is equal to the 2024 figure for Dharmaraja 7th Street.

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

Stamp duty and registration fee for property in Dharmaraja 7th 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, leading to a total cost of Rs 1,49,400. It is important to note that 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 7th Street?

The Sub Registrar Office that covers Dharmaraja 7th 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 details.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the official worth of the property, which can influence the financial obligations of the buyer. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dharmaraja 7th Street?

The current guideline value of Dharmaraja 7th 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 7th Street?

The land classification for Dharmaraja 7th Street is Residential Class III Type - I.

Which office handles registrations for properties in Vanagaram?

The Chennai South Joint I Sub Registrar Office handles registrations for properties in Vanagaram.

How is the stamp duty calculated for properties in Dharmaraja 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would amount to Rs 1,16,200.