Guideline Value for Dhandeeswaram 8th Main Road

Dhandeeswaram 8th Main Road guideline value

The current guideline value of Dhandeeswaram 8th Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, which falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dhandeeswaram 8th Main Road has changed

The guideline value for Dhandeeswaram 8th Main Road has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 495 per sq.ft. This figure increased significantly to Rs 2,200 per sq.ft in 2007, marking a rise of 344%. In 2012, the value adjusted to Rs 4,500 per sq.ft, reflecting a 105% increase from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the 2002 revision for this street. Overall, from 2003 to 2024, the guideline value has increased by 900%.

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 in this area is Rs 4,400 per sq.ft, making the 2024 figure for Dhandeeswaram 8th Main Road above this median.

• Dhandeeswaram 8th Cross Street Avenue: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 9th Cross Street: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 8th Cross Street 3rd Main Road: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 9th Cross Street Avenue: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 8th Cross Street: Rs 4,950 per sq.ft (2024)
• Dhandeeswaram 9th Main Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Dhandeeswaram 8th Main Road

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

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dhandeeswaram 8th Main Road?

The Dhandeeswaram 8th Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Velachery. When you buy or sell a property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions. This value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant and accurate.

Frequently asked questions

What is the current guideline value of Dhandeeswaram 8th Main Road?

The current guideline value of Dhandeeswaram 8th Main Road 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 from Rs 495 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, showing an overall increase of 900% over the years.

What is the land classification for Dhandeeswaram 8th Main Road?

Dhandeeswaram 8th Main Road is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for Dhandeeswaram 8th Main Road?

The Velacheri Sub Registrar Office handles registrations for Dhandeeswaram 8th Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.