Guideline Value for Dharmashastha Nagar

Dharmashastha Nagar guideline value

The current guideline value of Dharmashastha Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Dharmashastha Nagar has changed

Over the years, the guideline value of Dharmashastha Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, in 2017, it was adjusted to Rs 100 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought it back to Rs 150 per sq.ft, and this value has remained the same through to the 2024 revision, indicating no percentage change from 2023 to 2024.

The overall change from the 2012 revision to the 2024 revision shows no increase, with the value consistently being Rs 150 per sq.ft from 2012 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing the Dharmashastha Nagar guideline value below this median.

• Doctor Avenue: Rs 250 per sq.ft (2024)
• Doctors Avenue Annexe-I: Rs 400 per sq.ft (2024)
• Dr.APJ Abdul Kalam Nagar: Rs 250 per sq.ft (2024)
• Chinnasamy Nagar: Rs 200 per sq.ft (2024)
• Ganapathy Farm House Site: Rs 400 per sq.ft (2024)
• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Dharmashastha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees together to Rs 13,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Dharmashastha Nagar?

The Sub Registrar Office that covers Dharmashastha Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Somangalam, as it determines the base value for calculating stamp duty and registration fees. When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to compute the applicable fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any potential disputes regarding property valuations.

Frequently asked questions

What is the current guideline value of Dharmashastha Nagar?

The current guideline value of Dharmashastha Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a notable decrease to Rs 100 per sq.ft in 2017 before returning to Rs 150 per sq.ft in 2023.

What is the classification of land in Dharmashastha Nagar?

Dharmashastha Nagar is classified as Residential Class IV Type - I, which is significant for understanding its usage and regulatory framework.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is set at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 150 per sq.ft would incur total fees of Rs 13,500.

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

The Sub Registrar Office for Dharmashastha Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.