Guideline Value for Dhenugambal Nagar 1st Street

Dhenugambal Nagar 1st Street guideline value

The current guideline value of Dhenugambal Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Dhenugambal Nagar 1st Street has changed

The guideline value for Dhenugambal Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Dhenugambal Nagar 1st Street is below this median.

• Dhenugambal Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Dhenugambal Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Dhenugambal Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Dhenugambal Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Dhenugambal Nagar: Rs 2,200 per sq.ft (2024)
• Dhenugambal Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dhenugambal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 Dhenugambal Nagar 1st Street?

The Sub Registrar Office that covers Dhenugambal Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable charges. This ensures that both parties are aware of the financial implications associated with the transaction, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Dhenugambal Nagar 1st Street?

The current guideline value of Dhenugambal Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase overall. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Dhenugambal Nagar 1st Street?

The Selaiyur Sub Registrar Office handles registrations for Dhenugambal Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined for properties in Madambakkam?

The guideline value is determined based on various factors, including land classification and market conditions. It serves as a reference point for calculating registration fees and stamp duty during property transactions.