Guideline Value for DAMODARA REDDY STREET

Damodara Reddy Street guideline value

The current guideline value of Damodara Reddy Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Special Type - I.

How the guideline value of Damodara Reddy Street has changed

The guideline value for Damodara Reddy Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,322 per sq.ft, which increased to Rs 1,468 per sq.ft in 2003, marking an increase of 11%. The value rose dramatically to Rs 3,143 per sq.ft in 2007, reflecting a 114% increase. Following this, the 2012 revision brought the value down to Rs 10,000 per sq.ft, a decrease of 33%. The value then increased to Rs 6,700 per sq.ft in 2017, followed by a substantial rise to Rs 10,000 per sq.ft in 2023, and finally reaching Rs 11,000 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 732%. The register has no figures for the years not mentioned in the provided data.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value is Rs 11,000 per sq.ft, which is equal to the 2024 figure for Damodara Reddy Street.

• Daniel Street: Rs 9,900 per sq.ft (2024)
• Deenadayalu Street: Rs 11,000 per sq.ft (2024)
• Cresent Park Road: Rs 9,900 per sq.ft (2024)
• Crescent Road (North): Rs 8,300 per sq.ft (2024)
• Crescent Road (East): Rs 8,300 per sq.ft (2024)
• Crescent Park Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Damodara Reddy Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, resulting in a total of Rs 9,90,000. 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 details.

Which Sub Registrar Office covers Damodara Reddy Street?

The Sub Registrar Office that covers Damodara Reddy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will charge the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Damodara Reddy Street?

The current guideline value of Damodara Reddy Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,322 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 732% over the years.

What is the stamp duty for property on Damodara Reddy Street?

The stamp duty for property on Damodara Reddy Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000.

Which office handles property registration for Damodara Reddy Street?

The Thiyagaraya nagar Sub Registrar Office handles property registration for Damodara Reddy Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Damodara Reddy Street?

Damodara Reddy Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.