Guideline Value for Dharansingh Colony 2nd Street

Dharansingh Colony 2nd Street guideline value

The current guideline value of Dharansingh Colony 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Dharansingh Colony 2nd Street has changed

The guideline value for Dharansingh Colony 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,350 per sq.ft. This figure increased significantly to Rs 6,000 per sq.ft in 2012, marking a 344% increase. However, in 2017, it decreased to Rs 4,020 per sq.ft, a drop of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and further increased to Rs 6,600 per sq.ft in 2024, reflecting a 10% rise.

Between 2017 and 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 389%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value 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, placing Dharansingh Colony 2nd Street's 2024 value above this median.

• Dharansingh Colony 1st Street: Rs 4,400 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 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important 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 information.

Which Sub Registrar Office covers Dharansingh Colony 2nd Street?

The Sub Registrar Office that covers Dharansingh Colony 2nd 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 is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the market standard for property prices in the area. It is essential for all parties involved to be aware of the current guideline values to facilitate a fair and transparent transaction process.

Frequently asked questions

What is the current guideline value of Dharansingh Colony 2nd Street?

The current guideline value of Dharansingh Colony 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and a rise in 2023.

What is the median guideline value in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, with Dharansingh Colony 2nd Street's 2024 value being above this median.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total cost of Rs 5,94,000 in these fees.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.