Guideline Value for Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07)

Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07) guideline value

The current guideline value for Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village and falls under the Madhavaram SRO. The land classification is Residential Class III Type - I.

How the guideline value of Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07) has changed

Over the years, the guideline value for Dhanalakshmi Nagar has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, before increasing again to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Dhanalakshmi Nagar is below this median.

• Dhanasingh Maistry Street: Rs 1,600 per sq.ft (2024)
• Dhanalakshmi Garden: Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward No.8): Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward-24): Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Devi Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07)?

The Sub Registrar Office that covers Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions within Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, it is essential to consider the guideline value to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Dhanalakshmi Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Dhanalakshmi Nagar?

The Madhavaram Sub Registrar Office handles registrations for Dhanalakshmi Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined in Madhavaram?

The guideline value in Madhavaram is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.