Guideline Value for DHARMARAJA KOIL STREET

Dharmaraja Koil Street guideline value

The current guideline value of Dharmaraja Koil Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Dharmaraja Koil Street has changed

The guideline value for Dharmaraja Koil Street has seen significant changes over the years. In the 2002 revision, the value was Rs 697 per sq.ft, which increased to Rs 773 per sq.ft in 2003. Following that, the value rose to Rs 1,500 per sq.ft in 2007, and then saw a substantial jump to Rs 7,000 per sq.ft in 2012. However, it decreased to Rs 4,690 per sq.ft in 2017. The value then increased to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as of the 2024 revision.

The changes between these revisions are noteworthy. From 2002 to 2003, there was an increase of 11%. The value rose by 94% from 2003 to 2007. The jump from 2007 to 2012 was a remarkable 367%. After a decline of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1005%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Dharmaraja Koil Street is above this median.

• Dharmaraja Koil Lane: Rs 5,000 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total charges would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dharmaraja Koil Street?

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

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

The guideline value is a crucial factor when registering property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 697 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 1005%.

What is the land classification for Dharmaraja Koil Street?

Dharmaraja Koil Street falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for property in Dharmaraja Koil Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 6,93,000.

Where is the Sub Registrar Office for Dharmaraja Koil Street located?

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