Guideline Value for Dharmaraja Koil Street

Dharmaraja Koil Street guideline value

The current guideline value of Dharmaraja Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Dharmaraja Koil Street has changed

The guideline value for Dharmaraja Koil Street has seen several revisions over the years. In 2003, the guideline value was Rs 163 per sq.ft, which increased to Rs 700 per sq.ft in 2007. Following this, the value rose significantly to Rs 1,800 per sq.ft in 2012, but then it decreased to Rs 1,206 per sq.ft in 2017. The next revision in 2023 brought the value back up to Rs 1,800 per sq.ft, and the most recent revision in 2024 has set it at Rs 1,980 per sq.ft.

The changes between these revisions are notable. From 2003 to 2007, the value increased by 329%. The period from 2007 to 2012 saw a decrease of 33%. However, from 2012 to 2017, the value rose by 49%. The jump from 2023 to 2024 was 10%, marking a steady increase in the guideline value over time, with an overall increase of 1115% from 2003 to 2024.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value of Dharmaraja Koil Street is below this median.

• Devanderan Nagar: Rs 2,160 per sq.ft (2024)
• Durairaj Nagar: Rs 2,530 per sq.ft (2024)
• Duraisamy Nagar Ext, Anna Street: Rs 3,300 per sq.ft (2024)
• Duraisamy Nagar Ext, Darmaraja Street: Rs 3,300 per sq.ft (2024)
• Duraiswamy Nagar: Rs 3,300 per sq.ft (2024)
• Crystal Court: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important 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 further calculations.

Which Sub Registrar Office covers Dharmaraja Koil Street?

The Sub Registrar Office that covers Dharmaraja Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions as assessed by the Registration Department.

When a buyer and seller agree on a sale price, the registration process will utilize the higher of the guideline value or the agreed sale price to calculate applicable duties and fees. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Dharmaraja Koil Street?

The current guideline value of Dharmaraja Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 163 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1115% over this period.

What is the registration fee for property in Dharmaraja Koil Street?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a registration fee of Rs 39,600 at a rate of 2%.

Which office handles registrations for Kilkattalai?

The Pallavaram Sub Registrar Office handles registrations for Kilkattalai, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the other guideline values in Kilkattalai?

Other streets in Kilkattalai have varying guideline values, with rates ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value in the village is Rs 2,530 per sq.ft.