Guideline Value for Dharansingh Colony 1st Street

Dharansingh Colony 1st Street guideline value

The current guideline value of Dharansingh Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Dharansingh Colony 1st Street has changed

Over the years, the guideline value for Dharansingh Colony 1st Street has undergone several revisions. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 196% rise. However, this value decreased to Rs 2,680 per sq.ft in 2017, representing a decline of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 increased it further to Rs 4,400 per sq.ft, a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 226%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Dharansingh Colony 1st Street.

• Dharansingh Colony 2nd Street: Rs 6,600 per sq.ft (2024)
• Divakar Street: Rs 4,950 per sq.ft (2024)
• Dhanalakshmi Colony Senthil Andavar Koil Street: Rs 4,950 per sq.ft (2024)
• Dhanalakshmi Colony: Rs 4,950 per sq.ft (2024)
• Devar Street: Rs 3,300 per sq.ft (2024)
• DEVARAJ NAGAR - V.O.C.Street Extension: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Dharansingh Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dharansingh Colony 1st Street?

The Sub Registrar Office that covers Dharansingh Colony 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It determines the minimum value at which a property can be registered, ensuring that the appropriate stamp duty and registration fees are calculated based on this value.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dharansingh Colony 1st Street?

The current guideline value of Dharansingh Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,350 per sq.ft in 2007 and reaching Rs 4,400 per sq.ft in 2024. There have been various increases and decreases in between, with the most recent revision showing a 10% increase from the previous year.

What is the land classification for Dharansingh Colony 1st Street?

Dharansingh Colony 1st Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Dharansingh Colony 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Saligramam?

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