Guideline Value for Dhanasingh Maistry Street

Dhanasingh Maistry Street guideline value

The current guideline value of Dhanasingh Maistry Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Dhanasingh Maistry Street has changed

The guideline value for Dhanasingh Maistry Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

In summary, the changes between revisions show a significant increase of 49% from 2017 to 2023. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is the same as the current value for Dhanasingh Maistry Street.

• Dhanalakshmi Nagar, Srisathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Dhanalakshmi Garden: Rs 1,300 per sq.ft (2024)
• Dhansingh Maistry St (Ward No.17): Rs 1,600 per sq.ft (2024)
• Dharmalingam Nagar Phase - I & Phase - II: Rs 2,200 per sq.ft (2024)
• Devi Nagar (Ward No.8): Rs 1,300 per sq.ft (2024)
• Devi Nagar (Ward-24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanasingh Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. 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 Dhanasingh Maistry Street?

The Sub Registrar Office that covers Dhanasingh Maistry Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties 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 buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Dhanasingh Maistry Street?

The current guideline value of Dhanasingh Maistry Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Dhanasingh Maistry Street?

Dhanasingh Maistry Street is classified as Residential Class II Type - I, which indicates its designation for residential use.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for Dhanasingh Maistry Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,44,000.