Guideline Value for Dhanalakshmi Nagar 5th Street

Dhanalakshmi Nagar 5th Street guideline value

The current guideline value of Dhanalakshmi Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Dhanalakshmi Nagar 5th Street has changed

The guideline value for Dhanalakshmi Nagar 5th Street has seen several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 219 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting an 83% increase. The subsequent revision in 2012 saw the value rise to Rs 2,000 per sq.ft, a significant 400% increase from the previous figure. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,000%. The register has no figures for this street for the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Dhanalakshmi Nagar 5th Street's current guideline value is below this median.

• Dhanalakshmi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Please 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 Dhanalakshmi Nagar 5th Street?

The Dhanalakshmi Nagar 5th Street is covered by 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 an important factor during property registration in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 5th Street?

The current guideline value of Dhanalakshmi Nagar 5th Street 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 several times, starting 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 the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Dhanalakshmi Nagar 5th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Dhanalakshmi Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Maduravoyal?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It serves as a standard for calculating stamp duty and registration fees during property transactions.