Guideline Value for HARISH NAGAR

Harish Nagar guideline value

The current guideline value of Harish Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is part of Thiruvamputheri village and falls under the Tambaram Joint 1 SRO. The land classification for this location is Residential Special Type - I.

How the guideline value of Harish Nagar has changed

The guideline value for Harish Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 1,000 per sq.ft, and further rose to Rs 1,100 per sq.ft in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The transition from the 2023 to the 2024 revision reflects a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvamputheri

While there are no specific village figures provided, Harish Nagar's guideline value is part of the broader context of Thiruvamputheri. Below are the guideline values for other streets in Thiruvamputheri under the Tambaram Joint 1 SRO:

• Crescent Enclave: Rs 4,440 per sq.ft (2024)

Stamp duty and registration fee for property in Harish Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 Harish Nagar?

The Sub Registrar Office that covers Harish Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Thiruvamputheri. It serves as a baseline for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that both parties are aware of the financial implications. It is essential to verify the guideline value before proceeding with any transaction to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Harish Nagar?

The current guideline value of Harish Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Harish Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total charges would amount to Rs 99,000.

Which Sub Registrar Office covers Harish Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Harish Nagar, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the guideline value used in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It ensures compliance with local regulations and helps both buyers and sellers understand the financial implications of their transactions.