Guideline Value for Harbour Railway

Harbour Railway guideline value

The current guideline value of Harbour Railway in Tondaiarpet village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Royapuram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Harbour Railway has changed

The guideline value for Harbour Railway has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, resulting in a significant increase of 62% from the previous figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figure for the years 2002, 2003, and 2023 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the Harbour Railway guideline value below this median.

• Harinarayanapuram 1st Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 2nd Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 3rd Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 4th Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 5th Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Harbour Railway

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Harbour Railway?

The Harbour Railway area is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Tondaiarpet. It is used to determine the amount of stamp duty and registration fees that must be paid during the sale or purchase of a property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Harbour Railway?

The current guideline value of Harbour Railway is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 117% over the years.

What is the land classification for Harbour Railway?

Harbour Railway is classified as Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Harbour Railway?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft incurs a stamp duty of Rs 91,000.