Guideline Value for Dhanapal Street

Dhanapal Street guideline value

The current guideline value of Dhanapal Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Dhanapal Street has changed

The guideline value for Dhanapal Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 700 per sq.ft. In 2017, it decreased to Rs 469 per sq.ft, marking a decrease of 33%. However, by 2023, the value increased significantly to Rs 700 per sq.ft, and in the latest 2024 revision, it further increased to Rs 850 per sq.ft, representing a 21% rise from the previous year.

Between the revisions, the changes are notable. From 2012 to 2017, the value dropped by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 21%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. Dhanapal Street's 2024 figure is below that median.

• Duraisamy Avenue: Rs 1,900 per sq.ft (2024)
• Durga Colony: Rs 2,150 per sq.ft (2024)
• Durga Colony 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 1st Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanapal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost for these fees to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhanapal Street?

The Sub Registrar Office that covers Dhanapal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It is used as a benchmark to determine the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is assessed to calculate the applicable fees. This ensures that the state government receives the appropriate revenue from property transactions, which is vital for local development and infrastructure.

Frequently asked questions

What is the current guideline value of Dhanapal Street?

The current guideline value of Dhanapal Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification of Dhanapal Street?

Dhanapal Street is classified as Residential Class IV Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Dhanapal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 at a rate of 7%.