Guideline Value for Dharma Nagar

Dharma Nagar guideline value

The current guideline value of Dharma Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Dharma Nagar has changed

The guideline value for Dharma Nagar has seen several revisions over the years. Starting from Rs 130 per sq.ft in 2003, it increased to Rs 400 per sq.ft in 2007, followed by a significant rise to Rs 900 per sq.ft in 2012. However, in 2017, the value decreased to Rs 603 per sq.ft. The 2023 revision brought it back to Rs 900 per sq.ft, and the latest revision in 2024 set it at Rs 990 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 662%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, placing Dharma Nagar's 2024 figure below that median.

• Dharma Nagar 1st street: Rs 990 per sq.ft (2024)
• Dharma Nagar 2nd street: Rs 990 per sq.ft (2024)
• Dobi Street: Rs 1,300 per sq.ft (2024)
• Devi Nagar: Rs 1,100 per sq.ft (2024)
• Church Street: Rs 1,100 per sq.ft (2024)
• Church Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Dharma Nagar

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

Which Sub Registrar Office covers Dharma Nagar?

The Sub Registrar Office that covers Dharma Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayappakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dharma Nagar?

The current guideline value of Dharma 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 from Rs 130 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, showing an overall increase of 662% over the years.

What are the other streets in Ayappakkam with their guideline values?

Other streets in Ayappakkam include Dharma Nagar 1st street and Dharma Nagar 2nd street, both at Rs 990 per sq.ft, Dobi Street at Rs 1,300 per sq.ft, and others ranging from Rs 1,100 to Rs 1,300 per sq.ft.

How is the stamp duty calculated for properties in Dharma Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 9,90,000 incurs a stamp duty of Rs 69,300.

Where can I find the Sub Registrar Office for Dharma Nagar?

The Sub Registrar Office for Dharma Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.