Guideline Value for Dharman Street

Dharman Street guideline value

The current guideline value of Dharman Street in Madipakkam-1 village, under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Dharman Street has changed

The guideline value for Dharman Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was then increased to Rs 2,200 per sq.ft in the 2024 revision, marking a significant change of +64% over this period. It is important to note that the register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

In summary, the only available figures for Dharman Street are from the 2017 and 2024 revisions. The substantial increase from Rs 1,340 to Rs 2,200 reflects changes in the valuation criteria set by the Registration Department.

Guideline values in Madipakkam-1

Within Madipakkam-1, there are 1,823 streets recorded under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that Dharman Street's 2024 figure is below this median.

• Dr. Ambedhkar Salai: Rs 3,850 per sq.ft (2024)
• Dr.Ambedkar Salai/Periyar Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Dr Ambedkar Street,Periyar Nagar: Rs 3,850 per sq.ft (2024)
• Dr. Ambedkar Street/Rajarajeswari Nagar: Rs 2,750 per sq.ft (2024)
• Deivanai Nagar Extn-2 1st Street: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar Extn: Rs 2,200 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 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 to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dharman Street?

The Sub Registrar Office that covers Dharman Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process.

When registering a property, the guideline value is compared against the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Dharman Street?

The current guideline value of Dharman Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a change of +64%.

What is the land classification for Dharman Street?

Dharman Street is classified as Residential Class II Type - I.

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

For a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Dharman Street?

The Velacheri Sub Registrar Office covers Dharman Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.