Guideline Value for DREAM PARK EXTENSION

Dream Park Extension guideline value

The current guideline value of Dream Park Extension in Chitthalapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Dream Park Extension has changed

The guideline value for Dream Park Extension has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Dream Park Extension above this median.

• Dream Park: Rs 2,700 per sq.ft (2024)
• Durgaiamman Koil Street: Rs 2,950 per sq.ft (2024)
• Deivalakshmi Nagar: Rs 2,950 per sq.ft (2024)
• Esco Nagar: Rs 1,600 per sq.ft (2024)
• Ezhil Nagar: Rs 2,700 per sq.ft (2024)
• Gandhi Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Dream Park Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dream Park Extension?

The Dream Park Extension area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the necessary fees, ensuring that the transaction complies with local regulations. This value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Dream Park Extension?

The current guideline value of Dream Park Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, with the most recent being an increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Dream Park Extension?

Dream Park Extension is classified as Residential Special Type - III under the local land classification system.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure compliance with local regulations and maintain transparency in the buying and selling process.