Guideline Value for Dhanalakshmi Nagar

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar, located in Pidarithangal village under the Poonamallee SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and it has now risen to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The most notable change occurred between 2017 and 2023, where there was a 49% increase. The fluctuation between the revisions highlights the changes in the property landscape in the area.

Guideline values in Pidarithangal

Pidarithangal village has six streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,875 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Dhanalakshmi Nagar's current guideline value is below this median.

• Spe Metro City: Rs 4,875 per sq.ft (2024)
• S.P.E Mono City: Rs 1,100 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Pav Green Park: Rs 2,100 per sq.ft (2024)
• Varsha Masilamani Garden: Rs 4,875 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the 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?

The Sub Registrar Office that covers Dhanalakshmi Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a critical factor when registering a property in Pidarithangal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers should be aware that the guideline value is used to calculate the necessary fees, ensuring compliance with local regulations.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and transparently. It helps in maintaining a standard across the region for property transactions, making it easier for both parties to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the classification of land in Dhanalakshmi Nagar?

Dhanalakshmi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for Dhanalakshmi Nagar located?

The Sub Registrar Office covering Dhanalakshmi Nagar is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.