Guideline Value for Dharmalingam Avenue

Dharmalingam Avenue guideline value

The current guideline value of Dharmalingam Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village under the Kunrathur SRO and falls under the Residential Special Type - I land classification.

How the guideline value of Dharmalingam Avenue has changed

The guideline value for Dharmalingam Avenue has seen several revisions over the years. In 2003, the value was Rs 42 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, marking a 500% increase from the previous revision. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 3829%.

Guideline values in Kovur

Kovur village has a total of 91 streets under the Kunrathur SRO, with the 2024 guideline values 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, which is equal to the current value of Dharmalingam Avenue.

• Dharmaraja koil Street: Rs 1,650 per sq.ft (2024)
• Deivarathinam Nagar: Rs 1,430 per sq.ft (2024)
• East Madaveethi: Rs 1,320 per sq.ft (2024)
• Eswaran Nagar: Rs 1,320 per sq.ft (2024)
• Eswaran Nagar Annex: Rs 1,320 per sq.ft (2024)
• Gangadhran street: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmalingam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dharmalingam Avenue?

The Sub Registrar Office that covers Dharmalingam Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kovur. It serves as the basis for calculating the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the transaction is recorded accurately in the official records.

Frequently asked questions

What is the current guideline value of Dharmalingam Avenue?

The current guideline value of Dharmalingam Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 42 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, showing a significant increase over the years.

What are the stamp duty and registration fees for property in Dharmalingam Avenue?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Dharmalingam Avenue?

The Kunrathur Sub Registrar Office covers Dharmalingam Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What land classification does Dharmalingam Avenue fall under?

Dharmalingam Avenue falls under the Residential Special Type - I land classification.