Guideline Value for DHARMARAJA NAGAR 1ST, 2ND, 3RD, 4TH & 5TH STREET

Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street guideline value

The current guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street has changed

The guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 206 per sq.ft. This increased to Rs 237 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, which was a 111% jump. Following that, the guideline value doubled to Rs 1,500 per sq.ft in 2012, representing a 200% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it increased by 10% to the current rate of Rs 1,650 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 701%. There are no figures available for the years not listed for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,930 per sq.ft, which means the current guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street is below the median.

• Deviparasakthi Nagar Street: Rs 1,930 per sq.ft (2024)
• Devi Parasakthi Nagar: Rs 1,930 per sq.ft (2024)
• Devi Nagar Pilliyar Koil Street: Rs 2,480 per sq.ft (2024)
• Devi Nagar Main Road: Rs 2,480 per sq.ft (2024)
• Devi Nagar 1st Street: Rs 2,480 per sq.ft (2024)
• Devi Nagar: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street?

The Sub Registrar Office that covers Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street is 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, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set forth by the local authorities.

Frequently asked questions

What is the current guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street?

The current guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 206 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 701%.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions and ensures that the appropriate stamp duty and registration fees are collected based on the guideline value or sale price.

How is stamp duty calculated for properties in Dharmaraja Nagar?

Stamp duty is calculated at 7% of the higher value between the guideline value and the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

What is the median guideline value for streets in Karambakkam?

The median guideline value for streets in Karambakkam is Rs 1,930 per sq.ft, while the guideline value for Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street is below this median at Rs 1,650 per sq.ft.