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 locality is part of Somangalam_B village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Dharmashastha Nagar has changed

The guideline value for Dharmashastha Nagar has remained consistent at Rs 150 per sq.ft from the 2023 revision through to the 2024 revision. Prior to this, the 2017 revision set the guideline value at Rs 100 per sq.ft, marking a 50% increase when compared to the 2023 and 2024 figures.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the current 2024 revision reflects a 50% increase.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Dharmashastha Nagar's 2024 guideline value is 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 rate, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. 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 accurate calculations.

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 information.

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

The guideline value is a crucial factor in the registration of property transactions in Somangalam_B. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established rates. This helps maintain transparency and standardization in property dealings.

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 2023 to 2024, and it increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023 and 2024, representing a 50% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Which office handles property registrations for Dharmashastha Nagar?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on established rates.