Guideline Value for DAMODARAN NAGAR 6TH STREET

Damodaran Nagar 6th Street guideline value

The current guideline value of Damodaran Nagar 6th 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 it falls under the Residential Class III Type - II land classification.

How the guideline value of Damodaran Nagar 6th Street has changed

Over the years, the guideline value of Damodaran Nagar 6th Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 550 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 355%. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft with the 2024 revision, an increase of 8% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. From 2007 to 2024, the overall increase in the guideline value is 391%, reflecting the fluctuations in the market over the years.

Guideline values in Perambur

In Perambur village, 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 for Damodaran Nagar 6th Street aligns with this median.

• Damodaran Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar Link Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Nagar 6th 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, and 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Damodaran Nagar 6th Street?

The Sub Registrar Office that covers Damodaran Nagar 6th 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 plays a crucial role during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Damodaran Nagar 6th Street?

The current guideline value for Damodaran Nagar 6th 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 for Damodaran Nagar 6th Street?

Damodaran Nagar 6th Street is classified as Residential Class III Type - II.

What is the registration office for Damodaran Nagar 6th Street?

The registration office for Damodaran Nagar 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Damodaran Nagar 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000.