Guideline Value for DHAYOOT NAGAR

Dhayoot Nagar guideline value

The current guideline value of Dhayoot Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Dhayoot Nagar has changed

The guideline value for Dhayoot Nagar has seen several revisions over the years. In 2002, the value was Rs 77 per sq.ft, which increased to Rs 90 per sq.ft in 2003. Following this, there was a significant rise to Rs 300 per sq.ft in 2007, and then a remarkable increase to Rs 2,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft. After this period, the value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has reached Rs 2,200 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 17% from 2002 to 2003, followed by a 233% increase from 2003 to 2007. The value then surged by 567% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a substantial increase of 49%, culminating in a 10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 2,757%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value of Dhayoot Nagar.

• Dharmaboopathy Nagar: Rs 2,200 per sq.ft (2024)
• Dr. Ambethkar Nagar: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Devi Karuvizhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhayoot Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhayoot Nagar?

The Sub Registrar Office that covers Dhayoot Nagar 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 Medavakkam

The guideline value is crucial when registering property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential components of the property registration process, and they are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Dhayoot Nagar?

The current guideline value of Dhayoot Nagar is Rs 2,200 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 77 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,757% over this period.

What are the other streets with the same guideline value in Medavakkam?

Other streets in Medavakkam that share the same guideline value of Rs 2,200 per sq.ft include Dharmaboopathy Nagar, Dr. Ambethkar Nagar, and several streets in Devi Karuvizhi Nagar.

What are the stamp duty and registration fees for property in Dhayoot Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Dhayoot Nagar?

The Chennai South Joint I Sub Registrar Office manages registrations for Dhayoot Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.