Guideline Value for DHARMARAJA KOIL LANE

Dharmaraja Koil Lane guideline value

The current guideline value of Dharmaraja Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024. This lane is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Dharmaraja Koil Lane has changed

The guideline value for Dharmaraja Koil Lane has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 697 per sq.ft. This increased to Rs 773 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 200% increase. In 2012, the value changed to Rs 4,500 per sq.ft, which was a decrease of 33%. The 2017 revision saw the value rise again to Rs 3,015 per sq.ft, followed by a substantial increase to Rs 4,500 per sq.ft in 2023, and finally reaching Rs 5,000 per sq.ft in the 2024 revision, which is an 11% increase from the previous year. There are no figures available for the years not mentioned in this register for this street.

Overall, from 2002 to 2024, the guideline value has increased by 617%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Dharmaraja Koil Lane's 2024 figure below that median.

• Dharmaraja Koil Street: Rs 7,700 per sq.ft (2024)
• Dhanapal Street: Rs 6,600 per sq.ft (2024)
• Devanathan Colony: Rs 6,600 per sq.ft (2024)
• Easwaran Koil Street: Rs 6,600 per sq.ft (2024)
• C.I.T.NAGAR THIRD MAIN ROAD II nd STREET: Rs 7,700 per sq.ft (2024)
• C.I.T.Nagar Third Main Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dharmaraja Koil Lane?

The Sub Registrar Office that covers Dharmaraja Koil Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Mambalam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Dharmaraja Koil Lane?

The current guideline value of Dharmaraja Koil Lane is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 697 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 617% over the years.

What is the land classification for Dharmaraja Koil Lane?

Dharmaraja Koil Lane falls under the Residential Class III Type - II land classification.

Where can I find the Sub Registrar Office for this area?

The Thiyagaraya nagar Sub Registrar Office covers Dharmaraja Koil Lane, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Dharmaraja Koil Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at a rate of 7%.