Guideline Value for Dhanusha Nagar 1st Street

Dhanusha Nagar 1st Street guideline value

The current guideline value of Dhanusha Nagar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Dhanusha Nagar 1st Street has changed

The guideline value for Dhanusha Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,800 per sq.ft in 2023 and further to Rs 1,900 per sq.ft in 2024.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 6% increase. Overall, from 2012 to 2024, the guideline value has increased by just 6%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, making the 2024 figure for Dhanusha Nagar 1st Street below this median.

• Dhanusha Nagar: Rs 1,900 per sq.ft (2024)
• Dhanusha Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Dhanusha Nagar Cross Street: Rs 1,900 per sq.ft (2024)
• Dhanusha Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Dhanusha Nagar Phase I: Rs 1,900 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dhanusha Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dhanusha Nagar 1st Street?

The Dhanusha Nagar 1st Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. 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.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value is essential for calculating the applicable taxes and fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Dhanusha Nagar 1st Street?

The current guideline value of Dhanusha Nagar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,800 per sq.ft in 2012, decreasing to Rs 1,206 per sq.ft in 2017, and then increasing to Rs 1,800 per sq.ft in 2023, followed by Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value of Dhanusha Nagar 1st Street.

What are the stamp duty and registration fees for properties in Dhanusha Nagar 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 19,00,000. The stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Dhanusha Nagar 1st Street?

The registration for Dhanusha Nagar 1st Street is handled by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.