Guideline Value for DREEM CITY

Dreem City guideline value

The current guideline value of Dreem City, located in Pakkam village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Dreem City has changed

The guideline value for Dreem City has seen several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing a 49% increase from 2017 to 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, when comparing the 2012 and 2024 revisions, the guideline value has not changed, remaining at Rs 100 per sq.ft.

Guideline values in Pakkam

In Pakkam village, six streets under the Ponneri SRO carry a 2024 guideline value of Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Dreem City's 2024 figure is equal to this median.

• A.T.M. Nagar: Rs 100 per sq.ft (2024)
• Moon City Annex: Rs 100 per sq.ft (2024)
• New Sun City: Rs 100 per sq.ft (2024)
• Sri Parvathy Amman Nagar: Rs 100 per sq.ft (2024)
• Thirumalai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Dreem City

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee is 2%, amounting to Rs 2,000. Therefore, the total cost for these fees comes to Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dreem City?

The Sub Registrar Office that covers Dreem City is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are mandatory for legalizing property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Dreem City?

The current guideline value of Dreem City is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 is 0%.

What other streets in Pakkam have the same guideline value?

Other streets in Pakkam that have the same guideline value of Rs 100 per sq.ft in 2024 include A.T.M. Nagar, Moon City Annex, New Sun City, Sri Parvathy Amman Nagar, and Thirumalai Nagar.

What are the stamp duty and registration fees for property in Dreem City?

The stamp duty for property in Dreem City is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,000.

Which office should I visit for registration in Dreem City?

The Ponneri Sub Registrar Office is responsible for registration in Dreem City. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.