Guideline Value for M.R. Dharmalingam Salai

M.R. Dharmalingam Salai guideline value

The current guideline value of M.R. Dharmalingam Salai is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of M.R. Dharmalingam Salai has changed

Over the years, the guideline value of M.R. Dharmalingam Salai has seen several revisions. The guideline value was Rs 1,500 per sq.ft in 2012, which decreased to Rs 1,206 per sq.ft in 2017. However, from 2017 to 2023, it increased significantly to Rs 1,800 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing M.R. Dharmalingam Salai's 2024 figure below the median.

• Munusamy Street: Rs 1,900 per sq.ft (2024)
• Milk Colony Road / Palpannai Road: Rs 2,200 per sq.ft (2024)
• Mettu Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 10th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 1st Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in M.R. Dharmalingam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total charges Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.R. Dharmalingam Salai?

The Sub Registrar Office that covers M.R. Dharmalingam Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the prevailing property values.

Frequently asked questions

What is the current guideline value of M.R. Dharmalingam Salai?

The current guideline value of M.R. Dharmalingam Salai is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for M.R. Dharmalingam Salai?

The Madhavaram Sub Registrar Office handles property registrations for M.R. Dharmalingam Salai, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for M.R. Dharmalingam Salai?

M.R. Dharmalingam Salai is classified as Residential Class III Type - I, indicating its designation for residential use.