Guideline Value for Dharman Street

Dharman Street guideline value

The current guideline value of Dharman Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Dharman Street has changed

Over the years, the guideline value of Dharman Street has seen significant changes. In 2007, the value was Rs 1,210 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012, marking a substantial rise of 272%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

The register has no figures for Dharman Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Dharman Street.

• Double Tank Colony: Rs 7,700 per sq.ft (2024)
• Dhamodhar Vinayagar Street: Rs 4,100 per sq.ft (2024)
• Dhamodharan Street: Rs 3,300 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dr. Ambedkar Salai: Rs 8,800 per sq.ft (2024)
• Devarajan Street (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Dharman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 more details.

Which Sub Registrar Office covers Dharman Street?

The Sub Registrar Office that covers Dharman Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the sale price must be equal to or higher than the guideline value. If the sale price is lower, the stamp duty will be calculated based on the guideline value, which protects the interests of the government in property transactions.

Frequently asked questions

What is the current guideline value of Dharman Street?

The current guideline value of Dharman Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305%.

What are the stamp duty and registration fees for properties in Dharman Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Dharman Street?

The Ashok Nagar Sub Registrar Office covers Dharman Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Dharman Street?

Dharman Street falls under the Residential Class III Type - II land classification.