Guideline Value for DAMODARAN LANE

Damodaran Lane guideline value

The current guideline value of Damodaran Lane is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Damodaran Lane has changed

The guideline value for Damodaran Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 6,500 per sq.ft, an increase of 8% from Rs 6,000 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 4,020 per sq.ft, reflecting a significant increase of 49% from the previous 2023 figure. The 2012 revision had set the value at Rs 6,000 per sq.ft, which was a decrease of 33% from Rs 4,020 per sq.ft in 2017. The value in 2007 was Rs 2,600 per sq.ft, marking a substantial increase of 131% to reach the 2012 figure.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with 2024 guideline values 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, placing Damodaran Lane's current value above this median.

• Damodara Mudali Street: 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 Damodaran Lane

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, making the total fees Rs 5,85,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Damodaran Lane?

The Sub Registrar Office covering Damodaran Lane 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 in property transactions in Purasaivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

This value ensures that the government receives the appropriate revenue from property transactions, and it is important for both buyers and sellers to be aware of the current guideline value when engaging in real estate transactions.

Frequently asked questions

What is the current guideline value of Damodaran Lane?

The current guideline value of Damodaran Lane 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 increased from Rs 2,600 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, marking an overall increase of 150% over the years.

What are the stamp duty and registration fees for properties in Damodaran Lane?

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 office handles property registrations for Damodaran Lane?

The Purasaivakkam Sub Registrar Office handles property registrations for Damodaran Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating the applicable stamp duty and registration fees during property transactions.