Composite Value for DASA MAHAN 2ND STREET
₹7000 /sq.ft.
Composite Value
Chennai
Zone
Perambur
Village
Purasaivakkam
SRO
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Composite Value Comparison
SRO (Sub Registrar Office)
93/1, Bricklin Road, Otteri, Chennai- 600 012.
044-26623514
[email protected]
DRO (District Registrar Office)
No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]
DIG (Deputy Inspector General)
Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Understanding Composite Guideline Values for Apartment Properties on DASA MAHAN 2nd STREET, PERAMBUR
Composite Values vs Regular Guideline Values: What’s the Difference?
When assessing the value of property transactions, the terms "composite value" and "guideline value" are often used. Guideline values, set by the state government, represent the minimum price at which a property can be registered. On the other hand, composite values are more specific to certain property types, such as apartment buildings, and consider factors like land value and construction cost. For Dasa Mahan 2nd Street in Perambur, Chennai, the current composite value for apartments is ₹7000 per square foot, as per the Sub-Registrar Office (SRO) of Purasaivakkam. This value helps buyers and sellers gauge the fair market price for apartment properties in the area.
Apartment Market Analysis for Dasa Mahan 2nd Street, Perambur
Perambur, one of Chennai's oldest suburbs, has transformed into a residential hotspot, offering excellent connectivity and infrastructure. Dasa Mahan 2nd Street is a prime location within Perambur, known for its proximity to schools, hospitals, and retail hubs. The apartment market here is diverse, catering to middle-income and upper-middle-income families. With the composite value set at ₹7000/sq.ft, properties in this area are competitively priced compared to other parts of Chennai, making it an attractive option for both end-users and investors.
Building Classification and Valuation Factors
Apartment buildings on Dasa Mahan 2nd Street are typically classified based on construction quality, amenities, and age. High-rise apartments with modern amenities such as elevators, parking spaces, and security systems tend to command higher prices. The ₹7000/sq.ft composite value reflects the standard market rate for these buildings, factoring in both the land's value and the construction cost. Additional aspects like the building’s location on the street, floor preference, and available amenities can influence the final property price.
High-Rise Development Trends in Perambur
Perambur has seen a growing trend of high-rise apartments, driven by increasing demand for housing and limited land availability. Developers are focusing on vertical expansion, offering gated communities with modern amenities. On Dasa Mahan 2nd Street, several high-rise projects are either completed or under development, featuring facilities like clubhouses, swimming pools, and landscaped gardens. These projects cater to urban buyers seeking a blend of comfort and convenience.
Investment Opportunities in Apartment Properties
Apartment properties on Dasa Mahan 2nd Street offer lucrative investment opportunities for various buyer segments. The composite value of ₹7000/sq.ft ensures affordability while promising significant appreciation potential due to the area’s rapid development. Rental yields are also attractive, given the strong demand for residential units in Perambur. Investors can expect steady returns, making this area a smart choice for long-term investment.
Legal Considerations for Apartment Purchases
Before purchasing an apartment on Dasa Mahan 2nd Street, it is crucial to ensure legal compliance. Verify that the property has a clear title, approved building plans, and adherence to local zoning regulations. Additionally, confirm that the composite value of ₹7000/sq.ft is accurately reflected in the sale agreement and registration documents. Consulting with a legal expert can help avoid potential disputes and ensure a seamless transaction process.
Infrastructure Supporting Apartment Developments
The robust infrastructure in and around Perambur significantly contributes to the area's residential appeal. Dasa Mahan 2nd Street enjoys excellent connectivity through road and rail networks, with the Perambur Railway Station and several bus routes nearby. The locality also boasts reputed schools, healthcare facilities, and shopping centers, providing a comfortable living environment for residents. The presence of well-maintained roads, reliable water supply, and other civic amenities further supports the growth of apartment developments in this area.
Future Growth Potential of Dasa Mahan 2nd Street
With ongoing urbanization and infrastructure projects, the future growth potential of Dasa Mahan 2nd Street is promising. Upcoming metro rail expansions and road-widening projects are expected to enhance connectivity, driving demand for residential properties. Moreover, the continuous influx of IT professionals and business families into Chennai bodes well for the rental and resale market. The composite value of ₹7000/sq.ft is likely to appreciate in the coming years, making it an opportune time to invest in apartments in this locality.
Conclusion
Dasa Mahan 2nd Street in Perambur, Chennai, offers a vibrant real estate market with well-priced apartment properties. The composite value of ₹7000/sq.ft, set by the Purasaivakkam SRO, provides a reliable benchmark for buyers and investors. With supportive infrastructure, a growing trend of high-rise developments, and future growth potential, this locality stands out as a prime choice for those seeking quality apartments. Whether you are a homebuyer or an investor, Perambur’s real estate market is worth exploring for its promising returns and lifestyle benefits.
