Guideline Value for HIRANANDANI PARKS

Hiranandani Parks guideline value

The current guideline value of Hiranandani Parks is Rs 1,250 per sq.ft, effective from 1 July 2024. It is located in Patharvaadi village, under the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Hiranandani Parks has changed

Over the years, the guideline value for Hiranandani Parks has seen several revisions. The 2012 revision set the value at Rs 1,250 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 837 per sq.ft. However, by the 2023 revision, the value increased significantly to Rs 1,250 per sq.ft again. The most recent revision in 2024 maintains this value at Rs 1,250 per sq.ft, indicating no change from 2023 to 2024.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023. The decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 1,250 per sq.ft.

Guideline values in Patharvaadi

In Patharvaadi village, there are five streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 1,250 to Rs 2,850 per sq.ft. The median guideline value for these streets is Rs 1,250 per sq.ft, which is equal to the 2024 figure for Hiranandani Parks.

• Harshadha Homes: Rs 1,250 per sq.ft (2024)
• Divyadhara Homes: Rs 1,250 per sq.ft (2024)
• Tierra: Rs 2,090 per sq.ft (2024)
• Tierra-3: Rs 2,850 per sq.ft (2024)

Stamp duty and registration fee for property in Hiranandani Parks

For a 1,000 sq.ft plot at the current guideline value of Rs 1,250 per sq.ft, the total guideline value amounts to Rs 12,50,000. The stamp duty at 7% would be Rs 87,500, while the registration fee at 2% would be Rs 25,000. Together, the total cost for these fees would be Rs 1,12,500. 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 Hiranandani Parks?

The Hiranandani Parks area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Patharvaadi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Hiranandani Parks?

The current guideline value of Hiranandani Parks is Rs 1,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most notable changes occurring from 2012 to 2017, where it decreased by 33%, and then increased by 49% from 2017 to 2023. The value has remained constant at Rs 1,250 per sq.ft from 2023 to 2024.

What are the other streets in Patharvaadi with their guideline values?

Other streets in Patharvaadi include Harshadha Homes and Divyadhara Homes, both valued at Rs 1,250 per sq.ft. Tierra is valued at Rs 2,090 per sq.ft, while Tierra-3 has the highest value at Rs 2,850 per sq.ft.

What are the fees associated with buying property in Hiranandani Parks?

The fees for buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,12,500.

Where can I find the Sub Registrar Office for Hiranandani Parks?

The Walajabad Sub Registrar Office covers Hiranandani Parks and is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your specific SRO through the provided link.