Guideline Value for Hari Shankar Street

Hari Shankar Street guideline value

The current guideline value of Hari Shankar Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Hari Shankar Street has changed

The guideline value for Hari Shankar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,100 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, between 2017 and 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which matches the current guideline value for Hari Shankar Street.

• Hariharan Street: Rs 3,100 per sq.ft (2024)
• High View Nagar (Rayala Nagar Annexe): Rs 3,850 per sq.ft (2024)
• Gurusubramaniam Avenue: Rs 2,750 per sq.ft (2024)
• G.S. Nagar: Rs 3,100 per sq.ft (2024)
• G.R.Nagar Ist Street: Rs 3,100 per sq.ft (2024)
• G.R.Nagar 2nd Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Hari Shankar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total charges to Rs 2,79,000. 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 detailed calculations.

Which Sub Registrar Office covers Hari Shankar Street?

Hari Shankar Street falls under the jurisdiction of the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It helps determine the stamp duty and registration fees that must be paid during the transaction.

When you register a property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is compliant with the regulations set by the Registration Department. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Hari Shankar Street?

The current guideline value of Hari Shankar Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the median guideline value in Ramapuram?

The median guideline value in Ramapuram is Rs 3,100 per sq.ft, which is the same as the current value for Hari Shankar Street.

What are the stamp duty and registration fees for a property in Hari Shankar Street?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which office handles registrations for Hari Shankar Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Hari Shankar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.