Guideline Value for North Dharka Road

North Dharka Road guideline value

The current guideline value of North Dharka Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of North Dharka Road has changed

The guideline value for North Dharka Road has seen significant changes over the years. In 2003, the value was Rs 164 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a rise of 266%. The value then surged to Rs 2,500 per sq.ft in 2012, a substantial increase of 317%. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and from there, it increased by 10% to the current value of Rs 2,750 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1,577%. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which means that North Dharka Road's 2024 figure is below that median.

• North Sanjay Gandhi Nagar: Rs 2,100 per sq.ft (2024)
• North Subramaniyar Koil 1st St.: Rs 2,160 per sq.ft (2024)
• Nilagandan 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Nilagandan 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Odai Street: Rs 3,300 per sq.ft (2024)
• Omanathapillai Avenue P.t.1: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in North Dharka Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers North Dharka Road?

The Sub Registrar Office covering North Dharka Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When buyers and sellers agree on a sale price, the guideline value is checked to ensure compliance with the registration norms. If the sale price is lower than the guideline value, the higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of North Dharka Road?

The current guideline value of North Dharka Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 164 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, an overall increase of 1,577%.

What is the land classification for North Dharka Road?

North Dharka Road is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for North Dharka Road?

The Pallavaram Sub Registrar Office, which covers North Dharka Road, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total charges would be Rs 2,47,500.