Guideline Value for Dhanalakshmi Street

Dhanalakshmi Street guideline value

The current guideline value of Dhanalakshmi Street, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Dhanalakshmi Street has changed

Over the years, the guideline value of Dhanalakshmi Street has seen significant changes. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a rise of 700%. However, by 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The subsequent revisions showed a marked increase, with the value rising to Rs 2,000 per sq.ft in 2023 and further to Rs 2,160 per sq.ft in 2024, reflecting an 8% increase from the previous year. The overall change from 2007 to 2024 is a substantial increase of 764%.

The guideline value register does not have figures for the years 2002 and 2003 for Dhanalakshmi Street. The values listed above illustrate the fluctuations in guideline value over the years.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median value being Rs 2,160 per sq.ft. Dhanalakshmi Street's 2024 figure aligns with this median.

• Dhanalakshmi Street (Extn.): Rs 2,160 per sq.ft (2024)
• Dhanalakshmi Colony: Rs 2,160 per sq.ft (2024)
• Durai Pandian Street: Rs 2,160 per sq.ft (2024)
• Durairagubathi Street: Rs 2,160 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durikannu Salai: Rs 2,200 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 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dhanalakshmi Street?

The current guideline value of Dhanalakshmi Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 764%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,94,400.

Which office handles registrations for Dhanalakshmi Street?

The Pallavaram Sub Registrar Office handles registrations for Dhanalakshmi Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Dhanalakshmi Street?

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