Guideline Value for HARMITHA NAGAR

Harmitha Nagar guideline value

The current guideline value for Harmitha Nagar, located in Palavakkam village under the Oothukkottai SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Harmitha Nagar has changed

The guideline value of Harmitha Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. Following this, the value increased significantly to Rs 100 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 100 per sq.ft.

Guideline values in Palavakkam

In addition to Harmitha Nagar, other streets in Palavakkam also have a guideline value of Rs 100 per sq.ft in 2024. Below are the other streets in Palavakkam:

• Unnamed Plot: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Harmitha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000. Together, the total charges would be Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harmitha Nagar?

The Sub Registrar Office that covers Harmitha Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can also find your SRO for more information.

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

The guideline value plays a crucial role 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 that the transaction is compliant with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Harmitha Nagar?

The current guideline value of Harmitha Nagar is Rs 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 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in both 2023 and 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What is the stamp duty rate in Harmitha Nagar?

The stamp duty rate in Harmitha Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is compared with the sale price, and the higher amount is used for these calculations.