Guideline Value for DAMODARAN NAGAR 2ND CROSS STREET

Damodaran Nagar 2nd Cross Street guideline value

The current guideline value of Damodaran Nagar 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Damodaran Nagar 2nd Cross Street has changed

The guideline value for Damodaran Nagar 2nd Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 550 per sq.ft, which significantly increased to Rs 2,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. From 2017 to 2023, the value rose sharply by 49% to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase.

It is important to note that the register does not contain figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 391%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of Damodaran Nagar 2nd Cross Street.

• Damodaran Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 1st Cross 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)
• Damodaran Nagar 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Nagar 2nd Cross 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, while the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Damodaran Nagar 2nd Cross Street?

The Sub Registrar Office that covers Damodaran Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. 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 sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property’s valuation.

Frequently asked questions

What is the current guideline value of Damodaran Nagar 2nd Cross Street?

The current guideline value of Damodaran Nagar 2nd Cross 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 are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Perambur?

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

Where can I find more information about guideline values in Perambur?

For more information about guideline values in Perambur, you can refer to the Registration Department's guideline value register (TNReginet) or consult the local Sub Registrar Office.