Guideline Value for Dharanirajapuram

Dharanirajapuram guideline value

The current guideline value of Dharanirajapuram, located in Panapakkam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Dharanirajapuram has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This figure then decreased to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft. The median value among these streets is Rs 770 per sq.ft, which is equal to the current guideline value of Dharanirajapuram.

• Easwari Nagar: Rs 770 per sq.ft (2024)
• Eligancia: Rs 770 per sq.ft (2024)
• Ezhil Nagar: Rs 550 per sq.ft (2024)
• Ganapthipuram: Rs 990 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Balaji Nagar Part I: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Dharanirajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Dharanirajapuram?

The Sub Registrar Office that covers Dharanirajapuram is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Panapakkam, as it determines the base value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value serves as a reference point to assess the transaction's legitimacy and ensure that the sale price is not significantly lower than the guideline value. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Dharanirajapuram?

The current guideline value of Dharanirajapuram is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, including a decrease to Rs 469 per sq.ft in 2017 and an increase to Rs 700 per sq.ft in 2023. The most recent revision in 2024 set it at Rs 770 per sq.ft.

What is the land classification for Dharanirajapuram?

Dharanirajapuram is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a property valued at Rs 7,70,000 would incur a stamp duty of Rs 53,900 and a registration fee of Rs 15,400.

Where can I find the Sub Registrar Office for Dharanirajapuram?

The Padappai Sub Registrar Office covers Dharanirajapuram and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.