Guideline Value for Dams Road

Dams Road guideline value

The current guideline value of Dams Road in Chindadripet village is Rs 11,000 per sq.ft, effective from 1 July 2024. This road falls under the Periamet SRO and is classified as Commercial Special Type - II.

How the guideline value of Dams Road has changed

The guideline value for Dams Road has seen significant changes over the years. In the 2007 revision, the value was set at Rs 1,000 per sq.ft. This figure increased dramatically to Rs 10,000 per sq.ft in 2012, marking a 900% rise. However, in the 2017 revision, the value decreased to Rs 6,700 per sq.ft, a decline of 33%. The value then rose to Rs 10,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 11,000 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a guideline value for 2024 ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Dams Road's 2024 guideline value is above this median.

• Cox street: Rs 2,900 per sq.ft (2024)
• Cox colony: Rs 2,900 per sq.ft (2024)
• Coovum River Road: Rs 3,200 per sq.ft (2024)
• Devaraj sarang lane: Rs 3,300 per sq.ft (2024)
• Chinna Kolandathai street: Rs 3,300 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Dams Road

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, and the registration fee at 2% would be Rs 2,20,000, bringing the total 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dams Road?

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

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

The guideline value plays a crucial role when buying or selling property in Chindadripet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be paid to complete the transaction legally. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Dams Road?

The current guideline value of Dams Road 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 1,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification of Dams Road?

Dams Road is classified as Commercial Special Type - II under the current guidelines.

Where can I find the Sub Registrar Office for Dams Road?

The Sub Registrar Office for Dams Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000 and a registration fee of Rs 2,20,000.