Guideline Value for Dhanalaksmi Nagar Part II

Dhanalaksmi Nagar Part II guideline value

The current guideline value of Dhanalaksmi Nagar Part II is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Dhanalaksmi Nagar Part II has changed

The guideline value for Dhanalaksmi Nagar Part II has seen several revisions over the years. The earliest available revision is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, but then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose to Rs 2,000 per sq.ft in 2023 and finally to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was substantial at 49%. The value had previously seen a significant drop of 33% from 2012 to 2017. Notably, the 2007 to 2012 period experienced a remarkable increase of 400%. Overall, the guideline value has increased by 450% from 2007 to 2024.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Dhanalaksmi Nagar Part II is below this median.

• Dhanalakshmi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Dhanalakshmi Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanalaksmi Nagar Part II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Dhanalaksmi Nagar Part II?

The Sub Registrar Office that covers Dhanalaksmi Nagar Part II is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value during negotiations, as it influences the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Dhanalaksmi Nagar Part II?

The current guideline value of Dhanalaksmi Nagar Part II is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the stamp duty rate for property in Dhanalaksmi Nagar Part II?

The stamp duty rate for property transactions in Dhanalaksmi Nagar Part II is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dhanalaksmi Nagar Part II?

The Sub Registrar Office for Dhanalaksmi Nagar Part II is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Dhanalaksmi Nagar Part II being below this median at Rs 2,200 per sq.ft.