Guideline Value for DAMODARAN NAGAR 1ST STREET

Damodaran Nagar 1st Street guideline value

The current guideline value of Damodaran Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Damodaran Nagar 1st Street has changed

The guideline value for Damodaran Nagar 1st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 550 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure then decreased to Rs 1,675 per sq.ft in 2017. The subsequent revisions saw an increase, with the value rising to Rs 2,500 per sq.ft in 2023 and finally reaching Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 391%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Damodaran Nagar 1st Street is equal to this median.

• Damodaran Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Damodaran Nagar 1st Street?

The Sub Registrar Office covering Damodaran Nagar 1st 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 Perambur

The guideline value is a crucial factor in property transactions in Perambur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value may influence the sale price, as it provides a reference point for both parties. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Damodaran Nagar 1st Street?

The current guideline value of Damodaran Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 391% over the years.

What is the land classification of Damodaran Nagar 1st Street?

Damodaran Nagar 1st Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Damodaran Nagar 1st Street?

The Sub Registrar Office for Damodaran Nagar 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Damodaran Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.