Guideline Value for Dharkas Nagar

Dharkas Nagar guideline value

The current guideline value of Dharkas Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village, under the Padappai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Dharkas Nagar has changed

The guideline value for Dharkas Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 500%. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 900 per sq.ft in 2023, and most recently, it has increased to Rs 990 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Dharkas Nagar's 2024 figure below that median.

• Dhanaselvi Nagar: Rs 1,650 per sq.ft (2024)
• Doctors Ashwili Garden: Rs 1,330 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Devan Nagar: Rs 1,650 per sq.ft (2024)
• Dr.Ambethkar Street: Rs 1,650 per sq.ft (2024)
• Deepu Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Dharkas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dharkas Nagar?

Dharkas Nagar is covered by 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 Varadarajapuram

The guideline value is a critical factor in property transactions in Varadarajapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring that the transaction is accurately assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Dharkas Nagar?

The current guideline value of Dharkas Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for property in Dharkas Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 9,90,000. The stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Dharkas Nagar?

Dharkas Nagar falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Dharkas Nagar?

Dharkas Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.