Guideline Value for Dhanalakshmi Nagar

Dhanalakshmi Nagar guideline value

The current guideline value of Dhanalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Dhanalakshmi Nagar has changed

The guideline value for Dhanalakshmi Nagar has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 33 per sq.ft. It increased to Rs 200 per sq.ft in 2007, then doubled to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The value then rose to Rs 400 per sq.ft in 2023 and finally reached Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1233%. There is no figure available for the year 2002 in the register for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Dhanalakshmi Nagar is below this median.

• Elango Street: Rs 660 per sq.ft (2024)
• Chavadi Medu: Rs 440 per sq.ft (2024)
• E.V.R. Periyar Street: Rs 880 per sq.ft (2024)
• Buela Street: Rs 660 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 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, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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?

The Sub Registrar Office that covers Dhanalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Nagar?

The current guideline value of Dhanalakshmi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 33 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, marking a total increase of 1233% over this period.

What is the median guideline value in Grandlyon?

The median guideline value in Grandlyon is Rs 660 per sq.ft, while Dhanalakshmi Nagar's value is below this median.

What are the stamp duty rates for property in Dhanalakshmi Nagar?

The stamp duty for property in Dhanalakshmi Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Dhanalakshmi Nagar located?

The Redhills Sub Registrar Office covers Dhanalakshmi Nagar and is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.