Guideline Value for Dharmaraja Nagar

Dharmaraja Nagar guideline value

The current guideline value of Dharmaraja Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Dharmaraja Nagar has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This figure then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen an increase of 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Dharmaraja Nagar is below this median.

• Devendra Nagar Extension: Rs 990 per sq.ft (2024)
• Devendra Nagar: Rs 990 per sq.ft (2024)
• Devendira Nagar: Rs 990 per sq.ft (2024)
• Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Gandhi Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmaraja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for these fees would be Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dharmaraja Nagar?

The Sub Registrar Office that covers Dharmaraja Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dharmaraja Nagar?

The current guideline value of Dharmaraja Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Dharmaraja Nagar?

Dharmaraja Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Dharmaraja Nagar?

The Sub Registrar Office for Dharmaraja Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400.