Guideline Value for Dhanalakshmi Nagar 1st Street

Dhanalakshmi Nagar 1st Street guideline value

The current guideline value of Dhanalakshmi Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Dhanalakshmi Nagar 1st Street has changed

The guideline value for Dhanalakshmi Nagar 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. The value increased significantly to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,400 per sq.ft in 2024, reflecting a rise of 9% from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Dhanalakshmi Nagar 1st Street is above this median.

• Dhanalakshmi Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Dhanalakshmi Street: Rs 1,100 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that 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 1st Street?

The Sub Registrar Office that covers Dhanalakshmi Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

In essence, the guideline value is essential for both buyers and sellers as it provides a standardized measure of property value. This helps in avoiding disputes related to property pricing and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar 1st Street?

The current guideline value of Dhanalakshmi Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it to Rs 2,400 per sq.ft from Rs 2,200 per sq.ft in 2023. The value saw a significant drop from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017 before rising again.

What is the land classification of Dhanalakshmi Nagar 1st Street?

Dhanalakshmi Nagar 1st Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Dhanalakshmi Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,68,000 at a rate of 7%.