Guideline Value for Dharmalingam Nagar Main Road

Dharmalingam Nagar Main Road guideline value

The current guideline value of Dharmalingam Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Dharmalingam Nagar Main Road has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, raising the value to Rs 2,000 per sq.ft, which reflects a 49% change. The most recent revision in 2024 saw another increase, bringing the guideline value to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 22%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Dharmalingam Nagar Main Road.

• Dhanammal Nagar: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 3rd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Durgai Amman Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmalingam Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is essential 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 specific calculations.

Which Sub Registrar Office covers Dharmalingam Nagar Main Road?

The Madhavaram Sub Registrar Office covers Dharmalingam Nagar Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Selavoyal. It is used to determine the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Dharmalingam Nagar Main Road?

The current guideline value of Dharmalingam Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Dharmalingam Nagar Main Road?

Dharmalingam Nagar Main Road is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Dharmalingam Nagar Main Road?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Dharmalingam Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.