Guideline Value for Dhanalakshmi Street

Dhanalakshmi Street guideline value

The current guideline value of Dhanalakshmi Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Dhanalakshmi Street has changed

The guideline value for Dhanalakshmi Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, comparing the 2012 and 2024 revisions, there is a slight increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur village has 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Dhanalakshmi Street's current guideline value is below this median.

• Dhaniya Lakshmi Street: Rs 1,210 per sq.ft (2024)
• Co Optex Colony: Rs 3,630 per sq.ft (2024)
• Co-Operative Colony: Rs 3,630 per sq.ft (2024)
• Duraisami Nagar: Rs 3,630 per sq.ft (2024)
• Durga Avenue: Rs 1,210 per sq.ft (2024)
• E.B.Colony: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty, charged at 7%, would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200. Together, the total cost for these fees would be Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhanalakshmi Street?

The Sub Registrar Office that covers Dhanalakshmi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Mudichur. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers must ensure that the sale price is not lower than the guideline value to avoid potential legal issues.

When a property is sold, the guideline value helps in establishing a standard for taxation and ensures transparency in the transaction process. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Street?

The current guideline value of Dhanalakshmi Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Dhanalakshmi Street?

Dhanalakshmi Street is classified as Residential Class II Type - I under the Padappai SRO.

What are the stamp duty and registration fees for properties in Dhanalakshmi Street?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Where is the Sub Registrar Office for Dhanalakshmi Street located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.