Guideline Value for Dhanraj Street / Central Bank Colony

Dhanraj Street / Central Bank Colony guideline value

The current guideline value of Dhanraj Street / Central Bank Colony is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Dhanraj Street / Central Bank Colony has changed

The guideline value for Dhanraj Street / Central Bank Colony has seen several revisions over the years. In 2002, the value was Rs 147 per sq.ft, which increased to Rs 167 per sq.ft in 2003, marking a 14% rise. The value continued to increase, reaching Rs 275 per sq.ft in 2007, a significant jump of 65% from the previous revision. By 2017, the guideline value further escalated to Rs 1,139 per sq.ft, representing a 314% increase from 2007.

In 2023, the value was revised to Rs 1,700 per sq.ft, showing a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Dhanraj Street / Central Bank Colony's 2024 figure of Rs 1,870 per sq.ft is below this median.

• Dhandapani Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Dhanapal Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Dharmalingam Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Dhasaradhan Cross Street, Pammal: Rs 1,980 per sq.ft (2024)
• Dhasaradhan Street, Pammal: Rs 1,980 per sq.ft (2024)
• Dhasrathan Cross Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanraj Street / Central Bank Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400. Together, the total cost for stamp duty and registration would be Rs 1,68,300. It is important to note that 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 Dhanraj Street / Central Bank Colony?

The Sub Registrar Office that covers Dhanraj Street / Central Bank Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for accurate financial planning and ensuring that all legal requirements are met during the property transaction.

Frequently asked questions

What is the current guideline value of Dhanraj Street / Central Bank Colony?

The current guideline value of Dhanraj Street / Central Bank Colony is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 147 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, representing an overall increase of 1172%. Each revision has shown significant increases, especially from 2007 to 2017, where it rose by 314%.

What is the classification of Dhanraj Street / Central Bank Colony?

Dhanraj Street / Central Bank Colony is classified as Residential Class III Type - I, indicating its designation for residential use within the Pammal area.

Where can I find the Sub Registrar Office for Dhanraj Street / Central Bank Colony?

The Sub Registrar Office covering Dhanraj Street / Central Bank Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the appropriate fees are collected during the registration process.