Guideline Value for Harbour Colony

Harbour Colony guideline value

The current guideline value of Harbour Colony in Kolathur village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Harbour Colony has changed

The guideline value for Harbour Colony has seen several revisions over the years. Starting from Rs 121 per sq.ft in 2002, it increased to Rs 132 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, marking a 430% increase. By 2012, the value remained at Rs 4,000 per sq.ft, and it did not change until the 2023 revision, where it was again recorded at Rs 4,000 per sq.ft.

The most recent revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 3536%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Harbour Colony's 2024 figure above this median.

• Haridoss 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Haridoss Street: Rs 3,300 per sq.ft (2024)
• Green Land Avenue: Rs 2,700 per sq.ft (2024)
• Green Avenue: Rs 2,700 per sq.ft (2024)
• Hi-Tech City: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harbour Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Harbour Colony?

The Harbour Colony area falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

When buying or selling property in Kolathur, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is used to assess the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. This value is updated periodically, and staying informed about these changes can help in making better financial decisions.

Frequently asked questions

What is the current guideline value of Harbour Colony?

The current guideline value of Harbour Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 121 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 3536% over the years.

What is the classification of land in Harbour Colony?

Harbour Colony is classified as Residential Special Type - I under the current guidelines.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000.