Guideline Value for Dhanalakshmi Nagar 12th Street

Dhanalakshmi Nagar 12th Street guideline value

The current guideline value of Dhanalakshmi Nagar 12th 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 is classified as Residential Class V Type - I.

How the guideline value of Dhanalakshmi Nagar 12th Street has changed

The guideline value for Dhanalakshmi Nagar 12th Street has undergone 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 saw a significant increase to Rs 400 per sq.ft in 2007, which was a 83% change. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a substantial 400% increase. However, the value dropped to Rs 1,340 per sq.ft in 2017, which was a decrease of 33%. In 2023, the guideline value was Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, representing a 10% increase.

There are no figures available for the years not mentioned in the revisions for this street. The overall change from 2002 to 2024 shows a remarkable increase of 1000% in the guideline value.

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. The median guideline value in this area is Rs 3,050 per sq.ft, indicating that Dhanalakshmi Nagar 12th Street's 2024 figure is below this median.

• Dhanalakshmi Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 12th 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 cost for these fees 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 12th Street?

The Dhanalakshmi Nagar 12th Street falls under the jurisdiction of 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 in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Maduravoyal, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an officially recognized value.

It is crucial for buyers and sellers to be aware of the current guideline value, as it can influence the overall transaction costs. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 12th Street?

The current guideline value of Dhanalakshmi Nagar 12th 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 from Rs 200 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the registration office for Dhanalakshmi Nagar 12th Street?

The registration office for Dhanalakshmi Nagar 12th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a total fee of Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the stamp duty and registration fees. Buyers and sellers must consider the guideline value to understand their transaction costs accurately.