Guideline Value for SRI DHANALAKSHMI NAGAR

Sri Dhanalakshmi Nagar guideline value

The current guideline value of Sri Dhanalakshmi Nagar in Koladi village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Dhanalakshmi Nagar has changed

The guideline value for Sri Dhanalakshmi Nagar has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while the decrease from 2012 to 2017 was 33%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Koladi

Koladi village has a total of 175 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value in Koladi is Rs 1,100 per sq.ft, placing Sri Dhanalakshmi Nagar's current value above this median.

• Sri Bhuvaneswari Nagar: Rs 1,100 per sq.ft (2024)
• Sivasankar Nagar Road: Rs 660 per sq.ft (2024)
• Siva Sankar Nagar: Rs 660 per sq.ft (2024)
• Sivasakthi Vinayagar Street: Rs 880 per sq.ft (2024)
• Sriram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Sivan Koil Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Dhanalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Dhanalakshmi Nagar?

Sri Dhanalakshmi Nagar falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps in maintaining a fair assessment of property values within the region.

Frequently asked questions

What is the current guideline value of Sri Dhanalakshmi Nagar?

The current guideline value of Sri Dhanalakshmi Nagar is Rs 1,650 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Sri Dhanalakshmi Nagar?

Sri Dhanalakshmi Nagar is classified as Residential Class I Type - II.

Where can I find the registration office for Sri Dhanalakshmi Nagar?

The registration office for Sri Dhanalakshmi Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Sri Dhanalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.