Guideline Value for DHARMARAJA AVENUE

Dharmaraja Avenue guideline value

The current guideline value of Dharmaraja Avenue is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO, classified as Residential Special Type - I.

How the guideline value of Dharmaraja Avenue has changed

In the 2017 revision, the guideline value was Rs 3,200 per sq.ft. This figure increased significantly to Rs 4,777 per sq.ft in the 2023 revision, marking a change of 49%. The latest 2024 revision shows a further increase to Rs 5,300 per sq.ft, which is an 11% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Karapakkam

Within Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Dharmaraja Avenue's 2024 figure above this median.

• Dharmaraja Koil Street: Rs 1,100 per sq.ft (2024)
• Dharmalingam Garden / Ponnusamy Garden: Rs 1,100 per sq.ft (2024)
• D.H.K.Ath K.Kumar Garden: Rs 2,200 per sq.ft (2024)
• Darmaraja Koil Road: Rs 1,100 per sq.ft (2024)
• Crystal: Rs 8,500 per sq.ft (2024)
• Easwaran Street: Rs 4,680 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000. Together, the total cost for these fees would be Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dharmaraja Avenue?

Dharmaraja Avenue is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Karapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dharmaraja Avenue?

The current guideline value of Dharmaraja Avenue is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2017 to Rs 4,777 per sq.ft in 2023, and then to Rs 5,300 per sq.ft in 2024. This represents an overall increase of 66% from 2017 to 2024.

What is the land classification of Dharmaraja Avenue?

Dharmaraja Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated in Karapakkam?

Stamp duty and registration fees in Karapakkam are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees can be significant, including both stamp duty and registration fees.