Guideline Value for Dhanalakshmi Nagar 7th Street

Dhanalakshmi Nagar 7th Street guideline value

The current guideline value of Dhanalakshmi Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and falls under the Residential Class V Type - I land classification.

How the guideline value of Dhanalakshmi Nagar 7th Street has changed

The guideline value for Dhanalakshmi Nagar 7th Street has seen several revisions over the years. In 2002, 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 surged significantly to Rs 400 per sq.ft in 2007, which represented an 83% increase. By 2012, the value remained at Rs 2,000 per sq.ft, showing no figure for this street in the 2012 revision. The 2017 revision saw a decrease to Rs 1,340 per sq.ft, which was a 33% drop from the previous figure. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the 2023 figure.

Overall, from 2002 to 2024, the guideline value for Dhanalakshmi Nagar 7th Street has increased by 1000%, reflecting significant changes in property valuation over the years.

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. The guideline value for Dhanalakshmi Nagar 7th Street is below this median.

• Dhanalakshmi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 4th 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 7th Street

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 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 information.

Which Sub Registrar Office covers Dhanalakshmi Nagar 7th Street?

The Dhanalakshmi Nagar 7th Street 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 details.

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

The guideline value is a crucial factor during the registration process of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 7th Street?

The current guideline value of Dhanalakshmi Nagar 7th 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 significantly from Rs 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What are the stamp duty and registration fees for property in Dhanalakshmi Nagar 7th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Dhanalakshmi Nagar 7th Street?

The Virugambakkam Sub Registrar Office covers Dhanalakshmi Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Dhanalakshmi Nagar 7th Street?

Dhanalakshmi Nagar 7th Street is classified under Residential Class V Type - I, indicating its designation for residential purposes.