Guideline Value for DADASHA MAHAN 2ND STREET

Dadasha Mahan 2nd Street guideline value

The current guideline value of Dadasha Mahan 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dadasha Mahan 2nd Street has changed

The guideline value for Dadasha Mahan 2nd Street has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017 before rising again to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 4,400 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 577%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making the current value of Dadasha Mahan 2nd Street below this median.

• Dadasha Mahan 3rd Street: Rs 4,400 per sq.ft (2024)
• Dadasha Mahan Square 1st Street: Rs 4,400 per sq.ft (2024)
• Damodara Mudali Street: Rs 6,500 per sq.ft (2024)
• Damodaran Lane: Rs 6,500 per sq.ft (2024)
• Darga Road: Rs 3,300 per sq.ft (2024)
• Davidpuram: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Dadasha Mahan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dadasha Mahan 2nd Street?

The Sub Registrar Office that covers Dadasha Mahan 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for more information.

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

The guideline value is an important factor when it comes to the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers and sellers to consider this value during negotiations and when finalizing the sale agreement.

Frequently asked questions

What is the current guideline value of Dadasha Mahan 2nd Street?

The current guideline value of Dadasha Mahan 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, indicating that the guideline value of Dadasha Mahan 2nd Street is below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where can I find the Sub Registrar Office for Dadasha Mahan 2nd Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai-600 012. This office handles registrations for properties in the area.