Guideline Value for Dhanalakshmi Nagar 15th Street

Dhanalakshmi Nagar 15th Street guideline value

The current guideline value of Dhanalakshmi Nagar 15th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, 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 15th Street has changed

The guideline value for Dhanalakshmi Nagar 15th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft. This figure increased to Rs 219 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 400 per sq.ft in 2007, which was an increase of 83%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision.

In 2017, the guideline value was revised to Rs 1,340 per sq.ft, showing a decrease of 33%. The next revision in 2023 set the value at Rs 2,000 per sq.ft, followed by the current value 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 1000%.

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 15th Street's 2024 guideline value is below this median.

• Dhanalakshmi Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 10th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 15th 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, leading to a total of 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dhanalakshmi Nagar 15th Street?

The Dhanalakshmi Nagar 15th 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it provides a reference point for the financial implications of property transactions. It ensures that the appropriate taxes are paid, which is a legal requirement in property dealings.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 15th Street?

The current guideline value of Dhanalakshmi Nagar 15th 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 15th Street?

For a 1,000 sq.ft plot, the total guideline value would be 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 15th Street?

The Virugambakkam Sub Registrar Office covers Dhanalakshmi Nagar 15th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Dhanalakshmi Nagar 15th Street?

The land classification for Dhanalakshmi Nagar 15th Street is Residential Class V Type - I, indicating its designation for residential purposes.