Guideline Value for Dharga Street

Dharga Street guideline value

The current guideline value of Dharga Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III Type - I.

How the guideline value of Dharga Street has changed

The guideline value for Dharga Street has experienced several revisions over the years. In 2002, the guideline value was Rs 3,471 per sq.ft. This figure saw a significant decrease to Rs 353 per sq.ft in 2003, followed by a modest increase to Rs 400 per sq.ft in 2007. The value then rose dramatically to Rs 1,200 per sq.ft in 2012, before dropping to Rs 804 per sq.ft in 2017. The 2023 revision set the value at Rs 1,200 per sq.ft, which was then increased to Rs 1,320 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has decreased by 62%. The changes between the revisions include a 13% increase from 2003 to 2007, a 200% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Dharga Street's 2024 figure below that median.

• Devanbu Street: Rs 1,320 per sq.ft (2024)
• Devaki Street 1,2 Lane: Rs 1,320 per sq.ft (2024)
• Devaki Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambethkar Street: Rs 1,650 per sq.ft (2024)
• Dr. Radhakrishnan Street: Rs 1,650 per sq.ft (2024)
• Dr. Vaideeswaran 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dharga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dharga Street?

The Sub Registrar Office that covers Dharga Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO here.

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

The guideline value plays a crucial role during property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes.

When registering a property, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the duty is calculated based on the sale price. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Dharga Street?

The current guideline value of Dharga Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with a decrease from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall decline of 62%.

What is the land classification for Dharga Street?

Dharga Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Dharga Street?

For a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Dharga Street located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.