Guideline Value for HARIVARDHAN STREET

Harivardhan Street guideline value

The current guideline value of Harivardhan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Harivardhan Street has changed

The guideline value for Harivardhan Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Palavakkam

In Palavakkam, a total of 349 streets are recorded under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the guideline value of Harivardhan Street.

• Govindan Nagar(Main Road): Rs 4,400 per sq.ft (2024)
• Govindan Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Govindan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harivardhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 Harivardhan Street?

The Sub Registrar Office that covers Harivardhan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. Buyers and sellers must consider this value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Harivardhan Street?

The current guideline value of Harivardhan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a significant increase from Rs 3,000 per sq.ft in 2012.

What is the land classification for Harivardhan Street?

Harivardhan Street is classified as Residential Class II Type - II under the Neelankarai SRO.

Where can I find the registration office for Harivardhan Street?

The registration office for Harivardhan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

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, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, with stamp duty and registration fees amounting to Rs 2,97,000.