Guideline Value for Sri Dhanalakshmi Nagar

Sri Dhanalakshmi Nagar guideline value

The current guideline value of Sri Dhanalakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Dhanalakshmi Nagar has changed

Over the years, the guideline value for Sri Dhanalakshmi Nagar has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The value rose again to Rs 800 per sq.ft in 2023 and is now Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 was a remarkable increase of 300%. Overall, the guideline value has increased by 340% from 2007 to 2024. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing Sri Dhanalakshmi Nagar's 2024 figure below that median.

• Sri Kamadhenu Nagar: Rs 2,200 per sq.ft (2024)
• Sri Ambal Vijayalakshmi Nagar: Rs 2,460 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,320 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 2,460 per sq.ft (2024)
• Srinivasa Nagar: Rs 880 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 885 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost to Rs 79,200. 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 information.

Which Sub Registrar Office covers Sri Dhanalakshmi Nagar?

The Sub Registrar Office covering Sri Dhanalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannampalayam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When a buyer purchases property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Sri Dhanalakshmi Nagar?

The current guideline value of Sri Dhanalakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 340% during this period.

What is the registration office for Sri Dhanalakshmi Nagar?

The registration office for Sri Dhanalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for a property in Sri Dhanalakshmi Nagar?

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600 and the registration fee is Rs 17,600, totaling Rs 79,200.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value and influencing the calculation of stamp duty and registration fees. It ensures transparency and fairness in property dealings.