Guideline Value for Dhandeeswaram 7th Street

Dhandeeswaram 7th Street guideline value

The current guideline value of Dhandeeswaram 7th Street is Rs 4,950 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 - I.

How the guideline value of Dhandeeswaram 7th Street has changed

The guideline value for Dhandeeswaram 7th Street has undergone several revisions over the years. The oldest recorded revision was in 2012, where the guideline value was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 4,950 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no recorded figures for Dhandeeswaram 7th Street in the revisions for the years 2023, 2007, 2003, and 2002.

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 value for these streets is Rs 4,400 per sq.ft, placing Dhandeeswaram 7th Street above the median with its current value of Rs 4,950 per sq.ft.

• Dhandeeswaram 7th Main Road 4th Avenue 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 8th Avenue: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 7th Main Road 4th Avenue 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 8th Avenue (East): Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 7th Main Road 3rd Avenue West: Rs 5,500 per sq.ft (2024)
• Dhandeeswaram 8th Avenue (Service Salai) 100' Taramani Rd: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhandeeswaram 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Dhandeeswaram 7th Street?

The Sub Registrar Office that covers Dhandeeswaram 7th Street 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 when registering property transactions in Velachery. 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 duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the legal value of the property. It is essential for buyers to be aware of the guideline value to ensure that they are not overpaying for a property, and sellers should be aware of it to set a realistic price for their property.

Frequently asked questions

What is the current guideline value of Dhandeeswaram 7th Street?

The current guideline value of Dhandeeswaram 7th Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then increased to Rs 4,950 per sq.ft in 2024.

What is the land classification for Dhandeeswaram 7th Street?

Dhandeeswaram 7th Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Dhandeeswaram 7th Street?

The Sub Registrar Office for Dhandeeswaram 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Dhandeeswaram 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at 7%.