Guideline Value for HARILAKSHMI NAGAR

Harilakshmi Nagar guideline value

The current guideline value of Harilakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Harilakshmi Nagar has changed

The guideline value for Harilakshmi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft. In 2023, it increased to Rs 500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with the median being Rs 550 per sq.ft. Harilakshmi Nagar's 2024 figure is equal to this median.

• Harini Avenue: Rs 550 per sq.ft (2024)
• Harini Nagar: Rs 550 per sq.ft (2024)
• Hemachandira Nagar: Rs 1,320 per sq.ft (2024)
• Guru Street: Rs 1,320 per sq.ft (2024)
• Gururagavendhira Nagar: Rs 550 per sq.ft (2024)
• Imaja Gardens: Rs 580 per sq.ft (2024)

Stamp duty and registration fee for property in Harilakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that 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 Harilakshmi Nagar?

The Sub Registrar Office that covers Harilakshmi Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Minjur. It serves as a benchmark for assessing the value of properties and determining the applicable stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the correct fees are paid. This value is used by the registration office to calculate the necessary charges based on the property's size and classification.

Frequently asked questions

What is the current guideline value of Harilakshmi Nagar?

The current guideline value of Harilakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Minjur with similar guideline values?

Other streets in Minjur with a guideline value of Rs 550 per sq.ft include Harini Avenue, Harini Nagar, and Gururagavendhira Nagar, while Hemachandira Nagar and Guru Street have higher values at Rs 1,320 per sq.ft.

What fees are associated with property registration in Harilakshmi Nagar?

When registering property in Harilakshmi Nagar, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Harilakshmi Nagar?

The Sub Registrar Office for Harilakshmi Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.