Guideline Value for Damodara MudaliStreet

Damodara MudaliStreet guideline value

The current guideline value of Damodara MudaliStreet is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class I Type - II.

How the guideline value of Damodara MudaliStreet has changed

The guideline value for Damodara MudaliStreet has undergone several revisions over the years. In 2002, the value was Rs 855 per sq.ft, which increased to Rs 943 per sq.ft in 2003, marking a 10% change. The value saw a significant rise to Rs 2,000 per sq.ft in 2007, which was a 112% increase. In 2012, the value was recorded at Rs 10,000 per sq.ft, reflecting a 400% increase from the previous revision. However, it decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 10,000 per sq.ft in 2023, a 49% increase. The latest revision in 2024 set the value at Rs 11,000 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 indicates a substantial increase of 1187% in the guideline value for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, placing Damodara MudaliStreet's 2024 figure above this median.

• Damodara Murthy lane / road: Rs 11,000 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)
• Corporation Model Line: Rs 3,400 per sq.ft (2024)
• Coovam River road: Rs 4,900 per sq.ft (2024)
• Coovam riverLane: Rs 4,900 per sq.ft (2024)
• Desingh Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Damodara MudaliStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Damodara MudaliStreet?

The Sub Registrar Office that covers Damodara MudaliStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Damodara MudaliStreet?

The current guideline value of Damodara MudaliStreet is Rs 11,000 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 855 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 1187% over this period.

What is the land classification for Damodara MudaliStreet?

Damodara MudaliStreet is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Damodara MudaliStreet?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles registrations for properties in Damodara MudaliStreet?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for properties in Damodara MudaliStreet.