Guideline Value for Damodaran Street

Damodaran Street guideline value

The current guideline value of Damodaran Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Damodaran Street has changed

Over the years, the guideline value of Damodaran Street has seen significant changes. In the 2002 revision, the value was Rs 134 per sq.ft, which increased to Rs 155 per sq.ft in 2003, marking a 16% rise. The value continued to rise to Rs 600 per sq.ft in 2007, a substantial increase of 287%. Following this, the 2012 revision saw a decrease to Rs 3,100 per sq.ft, a drop of 417%. However, the value rebounded to Rs 2,077 per sq.ft in 2017, reflecting a 49% increase compared to 2012. The 2023 revision set the value at Rs 3,100 per sq.ft, which then increased by 10% to reach the current value of Rs 3,400 per sq.ft in 2024.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 2437%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. Damodaran Street's 2024 figure matches this median value.

• Colony Street: Rs 3,400 per sq.ft (2024)
• Chinna mettu palayam street: Rs 3,400 per sq.ft (2024)
• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)
• Chetty Street: Rs 3,400 per sq.ft (2024)
• Chairman Varadharajapuram: Rs 3,400 per sq.ft (2024)
• East Cabin Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Damodaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty, charged at 7%, would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Damodaran Street?

The Sub Registrar Office that covers Damodaran Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Satthankadu. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Damodaran Street?

The current guideline value of Damodaran Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, showing a significant overall increase of 2437% over this period.

What is the land classification for Damodaran Street?

Damodaran Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which office handles registrations for properties in Satthankadu?

The Thiruvottiyur Sub Registrar Office handles property registrations for Satthankadu, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.