Guideline Value for Dhanalakshmi Nagar Main Road

Dhanalakshmi Nagar Main Road guideline value

The current guideline value of Dhanalakshmi Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Dhanalakshmi Nagar Main Road has changed

The guideline value for Dhanalakshmi Nagar Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 200 per sq.ft. This increased to Rs 219 per sq.ft in 2003, marking a 10% rise. The value then saw significant jumps, reaching Rs 700 per sq.ft in 2007, a 220% increase from the previous figure. By 2012, the value was Rs 2,000 per sq.ft, reflecting a 186% increase from 2007.

In the subsequent revisions, the guideline value fluctuated. It decreased to Rs 1,340 per sq.ft in 2017, which was a 33% drop from 2012. However, the value rebounded to Rs 2,000 per sq.ft in 2023, and then rose again to the current Rs 2,200 per sq.ft in 2024, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,000%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value is Rs 3,050 per sq.ft, placing Dhanalakshmi Nagar Main Road's 2024 figure below this median.

• Dhanalaksmi Nagar Part II: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhanalakshmi Nagar Main Road?

The Dhanalakshmi Nagar Main Road falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during the sale process.

When a property is sold, the guideline value aids in establishing the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar Main Road?

The current guideline value of Dhanalakshmi Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,000% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000, which includes Rs 1,54,000 for stamp duty and Rs 44,000 for registration fees.

Which office handles property registrations in Dhanalakshmi Nagar Main Road?

The Virugambakkam Sub Registrar Office handles property registrations for Dhanalakshmi Nagar Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, while the guideline value for Dhanalakshmi Nagar Main Road is below this median at Rs 2,200 per sq.ft.