Guideline Value for DAMODARAN STREET

Damodaran Street guideline value

The current guideline value of Damodaran Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Damodaran Street has changed

The guideline value for Damodaran Street has seen several revisions over the years. In 2002, the guideline value was Rs 397 per sq.ft. This increased to Rs 458 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, which was an increase of 118%. Following this, the value jumped to Rs 2,800 per sq.ft in 2012, representing a substantial 180% increase. However, it then decreased to Rs 1,876 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,800 per sq.ft in 2023, and finally reached Rs 3,080 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 676%. There are no figures available for the years not mentioned in the revisions.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Damodaran Street's 2024 figure below that median.

• Defence Colony Road: Rs 6,600 per sq.ft (2024)
• Dhanakodi Raja Street: Rs 4,620 per sq.ft (2024)
• Dhanapal Street: Rs 3,080 per sq.ft (2024)
• Chinnanathamman Street: Rs 3,520 per sq.ft (2024)
• Cart Track Road: Rs 8,250 per sq.ft (2024)
• Duraiswamy Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, totaling Rs 2,77,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Damodaran Street?

The Sub Registrar Office that covers Damodaran Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Damodaran Street?

The current guideline value of Damodaran Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, reflecting an overall increase of 676% over this period.

What are the stamp duty and registration fees for properties in Damodaran Street?

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 2,77,200, based on the current guideline value.

Which office handles property registrations for Damodaran Street?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Damodaran Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Ekkaduthangal?

The median guideline value for the 190 streets in Ekkaduthangal is Rs 4,620 per sq.ft, with Damodaran Street's value being below this median.