Guideline Value for Dhamodharan Street

Dhamodharan Street guideline value

The current guideline value of Dhamodharan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - II.

How the guideline value of Dhamodharan Street has changed

The guideline value of Dhamodharan Street has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017, before rising to Rs 3,000 per sq.ft again in 2023, and finally reaching the current value of Rs 3,300 per sq.ft in 2024.

Overall, from the 2007 revision to the 2024 revision, there has been an increase of 313%. The changes between the revisions are as follows: from 2007 to 2012, the value increased by 275%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, it increased by 10%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Dhamodharan Street's 2024 figure below that median.

• Dhamodhar Vinayagar Street: Rs 4,100 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Devarajan Street (JPT): Rs 4,100 per sq.ft (2024)
• Devanathan Colony (W.M): Rs 4,900 per sq.ft (2024)
• Dharman Street: Rs 4,900 per sq.ft (2024)
• Desikar Street (Block 5): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Dhamodharan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhamodharan Street?

The Sub Registrar Office that covers Dhamodharan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used as a benchmark for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the transaction process.

When purchasing or selling property, the guideline value is essential for determining the official value of the property. This value helps in assessing the taxes and fees associated with the transaction, ensuring that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Dhamodharan Street?

The current guideline value of Dhamodharan Street 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 changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Dhamodharan Street?

Dhamodharan Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Dhamodharan Street?

The Sub Registrar Office for Dhamodharan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties on Dhamodharan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000 based on the guideline value of Rs 33,00,000.