Guideline Value for HANUMAR KOIL STREET

Hanumar Koil Street guideline value

The current guideline value of Hanumar Koil Street is Rs 2,970 per sq.ft. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Hanumar Koil Street has changed

Over the years, the guideline value for Hanumar Koil Street has seen several revisions. The earliest recorded revision was in 2012, with a guideline value of Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,700 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,970 per sq.ft, marking a 10% increase from the previous year.

To summarize the changes: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase, with the 2024 figure being equal to the median value of Rs 2,970 per sq.ft for other streets in Hastinapuram.

Guideline values in Hastinapuram

Hastinapuram village has a total of 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Hanumar Koil Street.

• Haridasspuram Main Road Kakkan Street: Rs 2,970 per sq.ft (2024)
• Harijan Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Harijan Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Hasthinapuram Main Road: Rs 4,400 per sq.ft (2024)
• Illango Street: Rs 1,650 per sq.ft (2024)
• Indira Cotton Mills Quarters: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Hanumar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, bringing the total charges to Rs 2,67,300. 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 more details on calculating these fees.

Which Sub Registrar Office covers Hanumar Koil Street?

The Sub Registrar Office that covers Hanumar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It is advisable to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Hanumar Koil Street?

The current guideline value of Hanumar Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024, marking a 10% increase. It was Rs 1,809 per sq.ft in 2017, which shows a significant increase of 49% to the 2023 figure.

What is the land classification for Hanumar Koil Street?

Hanumar Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Hanumar Koil Street?

The registration office for Hanumar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Hanumar Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,70,000, the stamp duty at 7% would be Rs 2,07,900.