Guideline Value for Dhanam Nagar

Dhanam Nagar guideline value

The current guideline value of Dhanam Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This locality is situated in Mogalivakkam village, under the jurisdiction of the Kunrathur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Dhanam Nagar has changed

The guideline value for Dhanam Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 2,600 per sq.ft in 2012, marking a 333% rise. However, it then decreased to Rs 1,742 per sq.ft in 2017, a reduction of 33%. The value saw a substantial increase to Rs 2,600 per sq.ft in 2023, followed by another increase to the current value of Rs 2,860 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for the years 2002 and 2003 for Dhanam Nagar. Overall, from 2007 to 2024, the guideline value has increased by 377%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Dhanam Nagar is below this median.

• Eswaran Koil Street: Rs 2,530 per sq.ft (2024)
• Chandra Nagar: Rs 2,860 per sq.ft (2024)
• E.V.P. Rathi Avenue: Rs 2,530 per sq.ft (2024)
• Brindavan Garden: Rs 2,970 per sq.ft (2024)
• Gowri Nagar: Rs 2,970 per sq.ft (2024)
• Gowri Nagar Extension: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost for these fees to Rs 2,57,400. 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 Dhanam Nagar?

Dhanam Nagar falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately in the land registry.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Dhanam Nagar?

The current guideline value of Dhanam Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377% over the years.

What is the stamp duty rate for property in Dhanam Nagar?

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

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value of a property for registration purposes. It is also the basis for calculating stamp duty and registration fees during property transactions.