Guideline Value for Dharmaraja Kovil 2nd Lane

Dharmaraja Kovil 2nd Lane guideline value

The current guideline value of Dharmaraja Kovil 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Dharmaraja Kovil 2nd Lane has changed

The guideline value for Dharmaraja Kovil 2nd Lane has undergone several revisions over the years. Starting from Rs 951 per sq.ft in 2003, it increased to Rs 1,200 per sq.ft in 2007, followed by a significant jump to Rs 4,000 per sq.ft in 2012. In 2017, the value dropped to Rs 2,680 per sq.ft, only to rise again to Rs 4,000 per sq.ft in 2023, and finally reaching Rs 4,400 per sq.ft in 2024.

Notably, the changes between the revisions show an increase of 26% from 2003 to 2007, a remarkable 233% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 363%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Dharmaraja Kovil 2nd Lane aligns with this median.

• Dharmaraja Kovil 1st Lane: Rs 4,400 per sq.ft (2024)
• Dharmaraja Kovil Street: Rs 4,400 per sq.ft (2024)
• Devaraja Mudali Street: Rs 8,800 per sq.ft (2024)
• Davidson Street: Rs 6,000 per sq.ft (2024)
• Ebrahim Syed Street: Rs 4,900 per sq.ft (2024)
• Edappalayam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Kovil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. 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 Dharmaraja Kovil 2nd Lane?

The Sub Registrar Office that covers Dharmaraja Kovil 2nd Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects the official value set by the government.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Dharmaraja Kovil 2nd Lane?

The current guideline value of Dharmaraja Kovil 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 951 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 363% over this period.

What is the land classification for Dharmaraja Kovil 2nd Lane?

Dharmaraja Kovil 2nd Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Dharmaraja Kovil 2nd Lane?

The Sub Registrar Office for Dharmaraja Kovil 2nd Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01, Chennai registration zone.

How is stamp duty calculated for properties in Muthiyalpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.