Guideline Value for HARIHARAN STREET

Hariharan Street guideline value

The current guideline value of Hariharan Street in Vengathur village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class IV Type - I.

How the guideline value of Hariharan Street has changed

Over the years, the guideline value of Hariharan Street has seen several revisions. The earliest recorded value was Rs 125 per sq.ft in 2007, which then increased significantly to Rs 500 per sq.ft in 2012. However, this value dropped to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintain the value at Rs 500 per sq.ft, indicating no change during this period. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 saw a remarkable increase of 300%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value range from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Hariharan Street's 2024 figure below this median.

• Indhira Gandhi Street: Rs 700 per sq.ft (2024)
• Gangatheeswarar Koil Street: Rs 1,300 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET(a)BHARTHASARATHY STREET: Rs 1,300 per sq.ft (2024)
• Ganesan Street: Rs 1,300 per sq.ft (2024)
• Gandhi Street (Kabilar Nagar): Rs 800 per sq.ft (2024)
• Gandhi Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Hariharan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hariharan Street?

The Sub Registrar Office that covers Hariharan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vengathur, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the sale price alone.

When buying or selling property, both parties must consider the guideline value to understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any surprises regarding the fees involved in the registration process.

Frequently asked questions

What is the current guideline value of Hariharan Street?

The current guideline value of Hariharan Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Hariharan Street?

Hariharan Street is classified as Residential Class IV Type - I.

How does the guideline value compare to other streets in Vengathur?

In Vengathur, the guideline values range from Rs 500 to Rs 2,000 per sq.ft, with the median being Rs 1,000 per sq.ft. Hariharan Street's value is below this median.

Where is the Sub Registrar Office for Hariharan Street located?

The Sub Registrar Office covering Hariharan Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.