Guideline Value for Dhanalakshmi Garden

Dhanalakshmi Garden guideline value

The current guideline value of Dhanalakshmi Garden, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Dhanalakshmi Garden has changed

The guideline value for Dhanalakshmi Garden has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure dropped to Rs 804 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, which is an increase of 8% from the previous year.

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

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Dhanalakshmi Garden's 2024 guideline value is below this median.

• Devi Nagar (Ward No.8): Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward-24): Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Devi Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Devi Nagar Annex: Rs 1,300 per sq.ft (2024)
• Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is 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 more information.

Which Sub Registrar Office covers Dhanalakshmi Garden?

The Dhanalakshmi Garden area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Garden?

The current guideline value of Dhanalakshmi Garden is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally reached Rs 1,300 per sq.ft in 2024.

What is the land classification of Dhanalakshmi Garden?

Dhanalakshmi Garden is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Dhanalakshmi Garden?

The Sub Registrar Office covering Dhanalakshmi Garden is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Dhanalakshmi Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 91,000.