Guideline Value for Harbour Colony 2nd Street

Harbour Colony 2nd Street guideline value

The current guideline value of Harbour Colony 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Harbour Colony 2nd Street has changed

The guideline value for Harbour Colony 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 2,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure.

In 2012, the guideline value was Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase, bringing the current value to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Harbour Colony 2nd Street is below this median.

• Harbour Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Harbour Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Harbour Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Harbour Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Harbour Colony 4th Street: Rs 2,200 per sq.ft (2024)
• Harbour Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Harbour Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Harbour Colony 2nd Street?

The Harbour Colony 2nd Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jampuli. It serves as a benchmark for calculating the stamp duty and registration fees, which are essential costs in the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of this value to understand the financial implications involved in the property transfer.

Frequently asked questions

What is the current guideline value of Harbour Colony 2nd Street?

The current guideline value of Harbour Colony 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including Rs 2,000 per sq.ft in 2023 and 2012.

What is the stamp duty for property in Harbour Colony 2nd Street?

The stamp duty for a property in Harbour Colony 2nd Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where can I find the Sub Registrar Office for Harbour Colony 2nd Street?

The Sub Registrar Office covering Harbour Colony 2nd Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Harbour Colony 2nd Street?

Harbour Colony 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.