Guideline Value for DAMODARA MUDALI STREET

Damodara Mudali Street guideline value

The current guideline value of Damodara Mudali Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Damodara Mudali Street has changed

The guideline value for Damodara Mudali Street has undergone several revisions over the years. In 2007, the guideline value was Rs 2,600 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value then rose significantly to Rs 6,000 per sq.ft in 2023, before reaching the current value of Rs 6,500 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 8%. Notably, the overall increase from 2007 to 2024 is 150%, highlighting a substantial change in the guideline value over these years.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Damodara Mudali Street above this median.

• Damodaran Lane: Rs 6,500 per sq.ft (2024)
• Dadasha Mahan Square 1st Street: Rs 4,400 per sq.ft (2024)
• Dadasha Mahan 3rd Street: Rs 4,400 per sq.ft (2024)
• Dadasha Mahan 2nd Street: Rs 4,400 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 Damodara Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Damodara Mudali Street?

The Sub Registrar Office that covers Damodara Mudali 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 a crucial factor when registering property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the registration office uses the guideline value to calculate the necessary fees. This value helps maintain transparency in property transactions and ensures that the appropriate taxes are collected based on the established rates.

Frequently asked questions

What is the current guideline value of Damodara Mudali Street?

The current guideline value of Damodara Mudali Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 150% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 65,00,000, the stamp duty would be Rs 4,55,000, and the registration fee would be Rs 1,30,000, totaling Rs 5,85,000.

Which Sub Registrar Office is responsible for Damodara Mudali Street?

The Purasaivakkam Sub Registrar Office is responsible for Damodara Mudali Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Damodara Mudali Street?

The land classification for Damodara Mudali Street is Residential Class II Type - II, indicating its suitability for residential development.