Guideline Value for Dhenugambal Nagar 2nd Main Road

Dhenugambal Nagar 2nd Main Road guideline value

The current guideline value for Dhenugambal Nagar 2nd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Dhenugambal Nagar 2nd Main Road has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,000 per sq.ft. However, with the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 to 2024 change specifically reflects a 10% rise, indicating a shift in the valuation of properties along this road.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the Dhenugambal Nagar 2nd Main Road's 2024 figure below that median.

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

Stamp duty and registration fee for property in Dhenugambal Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dhenugambal Nagar 2nd Main Road?

The Sub Registrar Office that covers Dhenugambal Nagar 2nd Main Road 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 information.

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

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 when negotiating sale prices to ensure compliance with registration requirements.

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

Frequently asked questions

What is the current guideline value of Dhenugambal Nagar 2nd Main Road?

The current guideline value of Dhenugambal Nagar 2nd Main Road 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase overall. The value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam under the Selaiyur SRO have a guideline value of Rs 2,200 per sq.ft in 2024. This includes streets like Dhenugambal Nagar 2nd Cross Street and Dhenugambal Nagar 1st Street.

What are the stamp duty and registration fees for properties 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 office handles property registrations in Dhenugambal Nagar 2nd Main Road?

The Selaiyur Sub Registrar Office handles property registrations for Dhenugambal Nagar 2nd Main Road. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.