Guideline Value for DHARMARAJA KOIL STREET

Dharmaraja Koil Street guideline value

The current guideline value of Dharmaraja Koil Street in Karanodai village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I 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. In 2003, the guideline value was Rs 35 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +1614%. The value then rose to Rs 1,100 per sq.ft in 2012, reflecting an increase of +83%. However, by 2017, the value decreased to Rs 737 per sq.ft, showing a decline of -33%. The next revision in 2023 brought it back up to Rs 1,100 per sq.ft, which was a substantial increase of +49%. Finally, the current revision in 2024 set the guideline value at Rs 1,210 per sq.ft, an increase of +10% from the previous year.

Overall, from 2003 to 2024, the guideline value has risen by +3357%. The register has no figure for this street in 2002.

Guideline values in Karanodai

Karanodai village has a total of 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, which is equal to the guideline value of Dharmaraja Koil Street.

• Dr. Ambedkar Street: Rs 440 per sq.ft (2024)
• Eswaran Nagar: Rs 1,650 per sq.ft (2024)
• Chengalamman Nagar: Rs 440 per sq.ft (2024)
• Chendur Murugan Nagar: Rs 440 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,210 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 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 rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total Rs 1,08,900. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Dharmaraja Koil Street?

The Sub Registrar Office that covers Dharmaraja Koil Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, ensuring that the fees are based on a standardized value rather than the negotiated sale price. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Dharmaraja Koil Street?

The current guideline value of Dharmaraja Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 35 per sq.ft in 2003 to Rs 1,210 per sq.ft in 2024, which represents an overall increase of +3357%.

What is the classification of land on Dharmaraja Koil Street?

Dharmaraja Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the other streets in Karanodai with their guideline values?

Other streets in Karanodai include Dr. Ambedkar Street at Rs 440 per sq.ft, Eswaran Nagar at Rs 1,650 per sq.ft, and Chelliamman Koil Street at Rs 1,210 per sq.ft, among others.

How is stamp duty calculated for properties in Karanodai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 12,10,000 would incur a stamp duty of Rs 84,700 at 7%.