Guideline Value for Dhanusha Nagar Phase I

Dhanusha Nagar Phase I guideline value

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

How the guideline value of Dhanusha Nagar Phase I has changed

The guideline value for Dhanusha Nagar Phase I has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, but this figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,800 per sq.ft, an increase of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, reflecting a 6% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure shows a modest increase of 6% over the twelve-year span.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Dhanusha Nagar Phase I is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to 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 essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dhanusha Nagar Phase I?

The Sub Registrar Office that covers Dhanusha Nagar Phase I is 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 is a crucial factor during the registration of property transactions in Madambakkam. 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 must be considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Dhanusha Nagar Phase I?

The current guideline value of Dhanusha Nagar Phase I 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with Dhanusha Nagar Phase I's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Dhanusha Nagar Phase I is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.