Guideline Value for DAMODARAN NAGAR 2ND STREET

Damodaran Nagar 2nd Street guideline value

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

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

The guideline value for Damodaran Nagar 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 550 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012, marking a rise of 355%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, a rise of 49% from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing an 8% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 391%.

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. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Damodaran Nagar 2nd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fees would be Rs 2,43,000. It is important to note that 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 Damodaran Nagar 2nd Street?

The Sub Registrar Office that covers Damodaran Nagar 2nd 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 the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. The guideline value ensures that the property is registered at a fair value, which is necessary for legal and taxation purposes.

When a property is sold, the buyer and seller must consider the guideline value to calculate the total costs involved in the transaction. This value is used to assess the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of Damodaran Nagar 2nd 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 several times, starting from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 391% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Damodaran Nagar 2nd Street?

The Purasaivakkam Sub Registrar Office covers Damodaran Nagar 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Damodaran Nagar 2nd Street?

The land classification for Damodaran Nagar 2nd Street is Residential Class III Type - II.