Guideline Value for DHARMARAJAPURAM

Dharmarajapuram guideline value

The current guideline value of Dharmarajapuram, located in Manapakkam village, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Dharmarajapuram has changed

The guideline value of Dharmarajapuram has seen several revisions over the years. In 2002, the value was Rs 54 per sq.ft, which increased to Rs 160 per sq.ft in 2003, marking a significant rise of 196%. The value continued to grow, reaching Rs 400 per sq.ft in 2007, a 150% increase from the previous figure. By 2012, the value adjusted to Rs 1,000 per sq.ft, reflecting a decrease of 33% from 2007.

In 2017, the guideline value rose again to Rs 670 per sq.ft, followed by another increase to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,937%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, placing Dharmarajapuram's 2024 figure below that median.

• Dharmarajapuram 1st Main Road: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 1st Street (Lane): Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 2nd Street Lane: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 3rd Lane: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram Main Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmarajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dharmarajapuram?

The Sub Registrar Office that covers Dharmarajapuram 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to calculate the applicable fees. This ensures that the transaction is documented accurately and that the necessary taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dharmarajapuram?

The current guideline value of Dharmarajapuram is Rs 1,100 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 54 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1,937% over the years.

What is the classification of land in Dharmarajapuram?

Dharmarajapuram is classified as Residential Class V Type - III, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Dharmarajapuram?

The Sub Registrar Office for Dharmarajapuram 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.

How is the stamp duty calculated for properties in Dharmarajapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.