Guideline Value for Dream Land Nagar

Dream Land Nagar guideline value

The current guideline value of Dream Land Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 605 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Dream Land Nagar has changed

The guideline value for Dream Land Nagar has seen several revisions over the years. In 2012, the value was set at Rs 400 per sq.ft, which increased to Rs 402 per sq.ft in 2017, marking a slight rise of 1%. The most significant change occurred between 2017 and 2023, where the value jumped to Rs 600 per sq.ft, reflecting a 49% increase. The latest revision in 2024 has further increased the value to Rs 605 per sq.ft, a 1% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 51%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Dream Land Nagar's 2024 figure above this median.

• Domnic Nagar: Rs 605 per sq.ft (2024)
• Doctor Ambethkar Street: Rs 700 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)
• Darga Street: Rs 600 per sq.ft (2024)
• Eswar Avenue: Rs 605 per sq.ft (2024)
• ETR Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dream Land Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value amounts to Rs 6,05,000. The stamp duty at 7% would be Rs 42,350, and the registration fee at 2% would be Rs 12,100, making the total cost for these fees Rs 54,450. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Dream Land Nagar?

The Sub Registrar Office that covers Dream Land Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Molachoor. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential for buyers to be aware of the guideline value to understand the financial implications of their purchase, including taxes and fees that will be calculated based on this value.

Frequently asked questions

What is the current guideline value of Dream Land Nagar?

The current guideline value of Dream Land Nagar is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 605 per sq.ft in 2024, marking an overall increase of 51% over this period.

What are the stamp duty and registration fees for properties in Dream Land Nagar?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,450.

Which office handles property registrations for Dream Land Nagar?

The Sunguvarchattram Sub Registrar Office handles property registrations for Dream Land Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value determined for properties in Molachoor?

The guideline value is determined by the Registration Department and varies based on the location and type of property. It is used to calculate the stamp duty and registration fees during property transactions.