Guideline Value for DHARMARAJA KOIL STREET

Dharmaraja Koil Street guideline value

The current guideline value of Dharmaraja Koil Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification is Residential Class II Type - II.

How the guideline value of Dharmaraja Koil Street has changed

The guideline value for Dharmaraja Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, reflecting a substantial increase of 49% from the previous revision. As of 2024, the guideline value stands at Rs 6,500 per sq.ft, which is an 8% increase from 2023.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 261%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Dharmaraja Koil Street's 2024 figure above this median.

• Diwan Bahadur Shanmugam Road: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 1st Street: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road: Rs 9,800 per sq.ft (2024)
• Diwan Rama Iyengar Road Lane: Rs 9,900 per sq.ft (2024)
• Dolly Street: Rs 6,000 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 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, leading to a total of Rs 5,85,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dharmaraja Koil Street?

The Sub Registrar Office that covers Dharmaraja Koil Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both parties involved in the transaction to understand how this value affects the overall cost of buying or selling property 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 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 261% over the years.

What is the land classification for Dharmaraja Koil Street?

Dharmaraja Koil Street is classified as Residential Class II Type - II.

Which Sub Registrar Office handles registrations for this street?

The Purasaivakkam Sub Registrar Office handles registrations for Dharmaraja Koil Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is 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 65,00,000, the stamp duty would be Rs 4,55,000 at a rate of 7%.