Guideline Value for DOLLY STREET

Dolly Street guideline value

The current guideline value of Dolly Street in Purasaivakkam village, under the Purasaivakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - III land classification.

How the guideline value of Dolly Street has changed

The guideline value of Dolly Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 206% rise. However, in 2017, the value decreased to Rs 3,685 per sq.ft, representing a 33% decline. The value then rose to Rs 5,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making Dolly Street's 2024 figure above that median.

• Diwan Rama Iyengar Road Lane: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road: Rs 9,800 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 1st Street: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road: Rs 9,900 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Dolly Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that the 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 Dolly Street?

The Sub Registrar Office that covers Dolly Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Purasaivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees payable during the transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both parties adhere to legal requirements. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dolly Street?

The current guideline value of Dolly Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification of Dolly Street?

Dolly Street is classified as Residential Class III Type - III, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for a property in Dolly Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Dolly Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Dolly Street.