Guideline Value for Dhamotharan Street

Dhamotharan Street guideline value

The current guideline value of Dhamotharan Street is Rs 1,900 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Dhamotharan Street has changed

Over the years, the guideline value of Dhamotharan Street has seen significant changes. The register shows a value of Rs 382 per sq.ft in 2002, which increased to Rs 414 per sq.ft in 2003, marking an 8% rise. The value then experienced a substantial jump to Rs 800 per sq.ft in 2007, reflecting a 93% increase. Following this, the 2012 revision set the value at Rs 1,800 per sq.ft, which represented a 125% increase from the previous revision.

In 2017, the guideline value was revised to Rs 1,206 per sq.ft, a decrease of 33%. This was followed by a rise to Rs 1,800 per sq.ft in 2023, which was a 49% increase. Finally, the current guideline value of Rs 1,900 per sq.ft for 2024 shows a 6% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Sembiam

Sembiam village has a total of 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that Dhamotharan Street's 2024 figure is below this median.

• Dhanammal Street: Rs 1,900 per sq.ft (2024)
• Dhimmasamy Dharga 1st Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 2nd Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 3rd Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 4th Street: Rs 1,700 per sq.ft (2024)
• Cholan Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Dhamotharan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 more details.

Which Sub Registrar Office covers Dhamotharan Street?

The Sub Registrar Office covering Dhamotharan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Sembiam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value for transactions in the area.

When registering a property, the guideline value is compared to the sale price. The stamp duty is charged on the higher of the two amounts, ensuring that the government receives the appropriate fees based on the property's value. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Dhamotharan Street?

The current guideline value of Dhamotharan Street is Rs 1,900 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 382 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 397% over this period.

What are the stamp duty and registration fees for properties in Dhamotharan Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,71,000, which includes Rs 1,33,000 for stamp duty and Rs 38,000 for registration fees.

Which office handles registrations in Sembiam?

The Sembiam Sub Registrar Office handles property registrations in Sembiam, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees reflect the property's value and helps maintain transparency in real estate dealings.