Guideline Value for Damodaram Street

Damodaram Street guideline value

The current guideline value of Damodaram Street is Rs 13,200 per sq.ft. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this street is Commercial Special Type - III.

How the guideline value of Damodaram Street has changed

The guideline value register has no figures for Damodaram Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 12,000 per sq.ft, which was then increased by 10% to Rs 13,200 per sq.ft in the 2024 revision, effective from 1 July 2024.

This change reflects a significant adjustment in the property valuation, moving from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. This increase indicates a shift in the guideline value for properties along this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Damodaram Street's 2024 figure above this median.

• Corporation Colony 2st Street: Rs 7,700 per sq.ft (2024)
• Corporation Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Co-Operative Colony: Rs 14,300 per sq.ft (2024)
• Conronsmith (Road) Salai: Rs 13,200 per sq.ft (2024)
• Chockalingam Nagar: Rs 14,300 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, resulting in a total of Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Damodaram Street?

The Sub Registrar Office that covers Damodaram Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mylapore Part 2, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with the local regulations.

Frequently asked questions

What is the current guideline value of Damodaram Street?

The current guideline value of Damodaram Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Damodaram Street was Rs 12,000 per sq.ft in 2023 and increased by 10% to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Damodaram Street?

Damodaram Street is classified as Commercial Special Type - III. This classification can affect the types of developments and activities permitted on the property.

Where can I find the Sub Registrar Office for Damodaram Street?

The Sub Registrar Office for Damodaram Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Damodaram Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.