Guideline Value for DAMODARAN NAGAR 8TH STREET

Damodaran Nagar 8th Street guideline value

The current guideline value of Damodaran Nagar 8th 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 8th Street has changed

The guideline value for Damodaran Nagar 8th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 550 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, reflecting a rise of 355%. However, the value then saw a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. By 2023, the value had risen again to Rs 2,500 per sq.ft, and the latest revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 391%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

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 8th Street.

• Damodaran Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar Link Road: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Damodaran Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Nagar 8th 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, 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Damodaran Nagar 8th Street?

The Sub Registrar Office that covers Damodaran Nagar 8th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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, 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, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Damodaran Nagar 8th Street?

The current guideline value of Damodaran Nagar 8th 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 significantly, starting 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 transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 27,00,000, the total stamp duty and registration fees would be Rs 2,43,000.

Which Sub Registrar Office covers Damodaran Nagar 8th Street?

The Purasaivakkam Sub Registrar Office covers Damodaran Nagar 8th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Damodaran Nagar 8th Street?

Damodaran Nagar 8th Street is classified as Residential Class III Type - II, indicating its suitability for residential development.