Guideline Value for Hari Sai Nagar

Hari Sai Nagar guideline value

The current guideline value of Hari Sai Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village under the Kunrathur SRO, classified as Residential Special Type - IV.

How the guideline value of Hari Sai Nagar has changed

The guideline value for Hari Sai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which then decreased to Rs 569 per sq.ft in 2017. Following this, the value increased to Rs 737 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value dropped by 33%. However, there was a significant increase of 30% from 2017 to 2023. The jump from 2023 to 2024 reflects a growth of 9%. Overall, the guideline value has decreased by 6% from 2012 to 2024.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Hari Sai Nagar is below this median.

• Jai Nagar Phase II: Rs 1,210 per sq.ft (2024)
• Gangai Amman Koil St: Rs 660 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 800 per sq.ft (2024)
• Jayalakshmi Nagar Anex - 1: Rs 800 per sq.ft (2024)
• Jayalakshmi Nagar Annexure 2: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar Annexure -III: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Hari Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, resulting in a total of Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Hari Sai Nagar?

The Sub Registrar Office that covers Hari Sai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across different properties in the region.

Frequently asked questions

What is the current guideline value of Hari Sai Nagar?

The current guideline value of Hari Sai Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then increased to Rs 737 per sq.ft in 2023, and is currently Rs 800 per sq.ft in 2024.

What is the land classification of Hari Sai Nagar?

Hari Sai Nagar is classified as Residential Special Type - IV, which indicates its zoning for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Hari Sai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 72,000 in duties and fees.