Guideline Value for Harbour Colony 1st Street

Harbour Colony 1st Street guideline value

The current guideline value of Harbour Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Harbour Colony 1st Street has changed

The guideline value for Harbour Colony 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year's figure of Rs 2,500 per sq.ft established in 2023. Prior to that, the guideline value was also Rs 2,500 per sq.ft during the 2012 revision. Notably, there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The absence of figures for the earlier revisions indicates that the value remained unchanged during those years.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value for Harbour Colony 1st Street.

• Gramaniyar Garden: Rs 2,700 per sq.ft (2024)
• Housing Board Colony: Rs 2,700 per sq.ft (2024)
• Govinda Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Govindasamy Street: Rs 2,700 per sq.ft (2024)
• Indira Street: Rs 2,200 per sq.ft (2024)
• Jampuli Bharathiar Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Harbour Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harbour Colony 1st Street?

The Harbour Colony 1st Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold, ensuring that the transaction is documented accurately.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for Harbour Colony 1st Street?

The current guideline value for Harbour Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. There have been no changes recorded for the years 2002, 2003, 2007, and 2017.

What are the stamp duty and registration fees for properties in Harbour Colony 1st Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Harbour Colony 1st Street?

The Madhavaram Sub Registrar Office handles property registrations for Harbour Colony 1st Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Harbour Colony 1st Street?

Harbour Colony 1st Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.