Guideline Value for DAMODARAN NAGAR

Damodaran Nagar guideline value

The current guideline value of Damodaran Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Damodaran Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value saw a significant rise to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The register has no figure for this street for the year 2002.

Between the revisions, notable changes include an increase of 19% from 2003 to 2007, a substantial increase of 355% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 8%. Overall, from 2003 to 2024, the guideline value has increased by 486%.

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 value is Rs 2,700 per sq.ft, which aligns with the guideline value for Damodaran Nagar.

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

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, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Damodaran Nagar?

Damodaran Nagar falls under the jurisdiction of 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 critical factor during 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 applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Damodaran Nagar?

The current guideline value of Damodaran Nagar 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 seen various changes, starting from Rs 461 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024. Notable changes include a significant rise from Rs 550 in 2007 to Rs 2,500 in 2012.

What is the land classification of Damodaran Nagar?

Damodaran Nagar is classified as Residential Class III Type - II, which indicates its suitability for residential development.

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

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

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

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