Guideline Value for Dhanalakshmi Avenue 3rd Street

Dhanalakshmi Avenue 3rd Street guideline value

The current guideline value of Dhanalakshmi Avenue 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, and it is classified as Residential Special Type - III.

How the guideline value of Dhanalakshmi Avenue 3rd Street has changed

The guideline value for Dhanalakshmi Avenue 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and finally, it rose to Rs 6,600 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallipattu

In Pallipattu, there are 72 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 9,400 per sq.ft. The guideline value of Dhanalakshmi Avenue 3rd Street is below this median.

• Dhanalakshmi Avenue 2nd Street: Rs 6,600 per sq.ft (2024)
• Dhanalakshmi Avenue 1st Street: Rs 6,600 per sq.ft (2024)
• Ethiraj Naikkan Bajanai Koil Street: Rs 4,400 per sq.ft (2024)
• Canal Road: Rs 5,000 per sq.ft (2024)
• Canal Bank Road: Rs 9,400 per sq.ft (2024)
• Bharathi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Avenue 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Dhanalakshmi Avenue 3rd Street?

The Sub Registrar Office that covers Dhanalakshmi Avenue 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers adhere to the regulations set forth by the Registration Department. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Avenue 3rd Street?

The current guideline value of Dhanalakshmi Avenue 3rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then back to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Dhanalakshmi Avenue 3rd Street?

Dhanalakshmi Avenue 3rd Street is classified as Residential Special Type - III.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Pallipattu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.