Guideline Value for DHARMARAJA KOIL STREET

Dharmaraja Koil Street guideline value

The current guideline value of Dharmaraja Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dharmaraja Koil Street has changed

The guideline value for Dharmaraja Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision and further rose to Rs 1,100 per sq.ft in the 2024 revision.

From 2012 to 2017, the value decreased by 33%. However, it saw a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In total, there are 185 streets in Karapakkam under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value across these streets is Rs 1,700 per sq.ft, placing Dharmaraja Koil Street's 2024 figure below this median.

• Dharmaraja Avenue: Rs 5,300 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 Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Dharmaraja Koil Street?

The Sub Registrar Office that covers Dharmaraja Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is compared against the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Dharmaraja Koil Street?

The current guideline value of Dharmaraja Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value saw a decrease from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017 before rising again.

What is the land classification of Dharmaraja Koil Street?

Dharmaraja Koil Street is classified as Residential Class III Type - I, indicating its use for residential purposes.

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.