Guideline Value for DHARMARAJA MAIN ROAD

Dharmaraja Main Road guideline value

The current guideline value of Dharmaraja Main Road is Rs 1,660 per sq.ft, effective from 1 July 2024. This road is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dharmaraja Main Road has changed

The guideline value for Dharmaraja Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 1,005 per sq.ft. However, the 2023 revision saw a significant increase to Rs 1,500 per sq.ft, and the most recent 2024 revision further raised the value to Rs 1,660 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 11%.

In summary, the revisions show a fluctuation in values: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, there was a substantial increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value among these streets is Rs 1,660 per sq.ft, which is equal to the guideline value of Dharmaraja Main Road.

• Dharmaraja Nagar: Rs 1,320 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,660 per sq.ft (2024)
• Dharmaraj Nagar 1 To 4 Streets: Rs 1,660 per sq.ft (2024)
• Dharmaraja 7th Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 6th Street: Rs 1,660 per sq.ft (2024)
• Dharmaraja 5th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dharmaraja Main Road?

The Dharmaraja Main Road is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller approaches the registration office, the guideline value helps in assessing the fair value of the property. This ensures transparency and compliance with the legal requirements for property transactions in the area.

Frequently asked questions

What is the current guideline value of Dharmaraja Main Road?

The current guideline value of Dharmaraja Main Road is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, increased to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,660 per sq.ft in 2024.

What is the land classification for Dharmaraja Main Road?

Dharmaraja Main Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Where can I find the Sub Registrar Office for Dharmaraja Main Road?

The Sub Registrar Office covering Dharmaraja Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.