Guideline Value for Sri Dhanalakshmi Nagar

Sri Dhanalakshmi Nagar guideline value

The current guideline value of Sri Dhanalakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Atthivakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Dhanalakshmi Nagar has changed

The guideline value for Sri Dhanalakshmi Nagar has undergone several revisions over the years. The earliest recorded figure in the register is from 2003, where the value was Rs 22 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking an increase of 809%. The value then rose to Rs 300 per sq.ft in 2012, which represented a 50% increase from the previous revision. However, it decreased to Rs 201 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 300 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2003 to 2024, the guideline value has increased by 1400%.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,400 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value of Sri Dhanalakshmi Nagar is below this median.

• Sri Bala Vinayaga Nagar: Rs 330 per sq.ft (2024)
• Sri Sathiya Narayana Garden: Rs 275 per sq.ft (2024)
• Sun City: Rs 1,045 per sq.ft (2024)
• Sapthar Hasmi Nagar 2 nd Part: Rs 330 per sq.ft (2024)
• Sapthar Hasmi Nagar: Rs 330 per sq.ft (2024)
• Thirupathi Nagar: Rs 275 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. The 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 Sri Dhanalakshmi Nagar?

The Sub Registrar Office that covers Sri Dhanalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Atthivakkam. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in establishing a legal framework for the sale and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Dhanalakshmi Nagar?

The current guideline value of Sri Dhanalakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 22 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, marking an overall increase of 1400% over the years.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions. It ensures that all legal requirements are met and that the transactions are recorded accurately.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at a rate of 7%.

What are the other streets in Atthivakkam with guideline values?

Other streets in Atthivakkam include Sri Bala Vinayaga Nagar, Sri Sathiya Narayana Garden, Sun City, Sapthar Hasmi Nagar 2 nd Part, Sapthar Hasmi Nagar, and Thirupathi Nagar, with values ranging from Rs 275 to Rs 1,045 per sq.ft in 2024.