Guideline Value for Dhandapani Street (Sengunthar Street Opp Gandhi Road)

Dhandapani Street (Sengunthar Street Opp Gandhi Road) guideline value

The current guideline value of Dhandapani Street (Sengunthar Street Opp Gandhi Road) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Dhandapani Street (Sengunthar Street Opp Gandhi Road) has changed

The guideline value for Dhandapani Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,680 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision reflects a further increase of 10%, bringing the guideline value to Rs 4,400 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend indicates a notable change in the valuation of this property over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which aligns with the current value of Dhandapani Street (Sengunthar Street Opp Gandhi Road).

• Dhandapani Street Senguthar Street Opp Gandhi Road: Rs 4,400 per sq.ft (2024)
• Dhandapani Cross Street: Rs 3,850 per sq.ft (2024)
• Dhandapani Street/Thandapani Street: Rs 4,400 per sq.ft (2024)
• Dhandeeswaram 10th Cross Street: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 10th Main Road: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 11th Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Dhandapani Street (Sengunthar Street Opp Gandhi Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dhandapani Street (Sengunthar Street Opp Gandhi Road)?

The Sub Registrar Office that covers Dhandapani Street (Sengunthar Street Opp Gandhi Road) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that transactions are conducted transparently and that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dhandapani Street?

The current guideline value of Dhandapani Street (Sengunthar Street Opp Gandhi Road) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Dhandapani Street?

The Sub Registrar Office for Dhandapani Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Dhandapani Street?

The land classification for Dhandapani Street (Sengunthar Street Opp Gandhi Road) is Residential Class II Type - II.