Guideline Value for Hariharan Street

Hariharan Street guideline value

The current guideline value of Hariharan Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Hariharan Street has changed

The guideline value for Hariharan Street has seen several revisions over the years. In 2012, the value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, before reaching the current value of Rs 3,100 per sq.ft in 2024, marking an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a substantial increase of 49%, while the overall change from 2012 to 2024 shows an increase of 11%. The fluctuations highlight the changes in the guideline value over time, reflecting various factors affecting property in the area.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry 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 is equal to the guideline value of Hariharan Street.

• Hari Shankar Street: Rs 3,100 per sq.ft (2024)
• Gurusubramaniam Avenue: Rs 2,750 per sq.ft (2024)
• High View Nagar (Rayala Nagar Annexe): Rs 3,850 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 Hariharan Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 details.

Which Sub Registrar Office covers Hariharan Street?

The Sub Registrar Office that covers Hariharan Street is 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 plays a crucial role when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps maintain transparency in property transactions and ensures that the appropriate fees are collected based on the established values.

Frequently asked questions

What is the current guideline value of Hariharan Street?

The current guideline value of Hariharan 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 to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the other streets in Ramapuram with similar guideline values?

Other streets in Ramapuram with a guideline value of Rs 3,100 per sq.ft include Hari Shankar Street, G.S. Nagar, G.R.Nagar Ist Street, and G.R.Nagar 2nd Street.

What is the stamp duty rate for properties in Hariharan Street?

The stamp duty rate for properties in Hariharan Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Hariharan Street?

The Sub Registrar Office for Hariharan Street is 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.