Guideline Value for DREAM PARK

Dream Park guideline value

The current guideline value for Dream Park in Chitthalapakkam village, under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Dream Park has changed

The guideline value for Dream Park has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then changed to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. Following this, the 2023 revision raised the value to Rs 2,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,900 per sq.ft. The guideline value for Dream Park is below this median.

• Dream Park Extension: Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Dream Park?

The Sub Registrar Office that covers Dream Park is 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 plays a crucial role during the registration of property transactions in Chitthalapakkam. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Dream Park?

The current guideline value for Dream Park is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the guideline values for other streets in Chitthalapakkam?

Other streets in Chitthalapakkam have varying guideline values, with Dream Park Extension at Rs 3,300 per sq.ft, Durgaiamman Koil Street and Deivalakshmi Nagar both at Rs 2,950 per sq.ft, and Esco Nagar at Rs 1,600 per sq.ft.

What is the stamp duty rate for property in Dream Park?

The stamp duty rate for property transactions in Dream Park is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Selaiyur Sub Registrar Office located?

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