Guideline Value for Harijan Colony 1st Street

Harijan Colony 1st Street guideline value

The current guideline value of Harijan Colony 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Harijan Colony 1st Street has changed

The guideline value for Harijan Colony 1st Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, the value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2023 set the value at Rs 1,500 per sq.ft, which was followed by an increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median of Rs 2,970 per sq.ft. The guideline value of Harijan Colony 1st Street is below this median.

• Harijan Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Haridasspuram Main Road Kakkan Street: Rs 2,970 per sq.ft (2024)
• Hanumar Koil Street: Rs 2,970 per sq.ft (2024)
• Hasthinapuram Main Road: Rs 4,400 per sq.ft (2024)
• Illango Street: Rs 1,650 per sq.ft (2024)
• Indira Cotton Mills Quarters: Rs 2,380 per sq.ft (2024)

Stamp duty and registration fee for property in Harijan Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would amount to Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harijan Colony 1st Street?

The Sub Registrar Office that covers Harijan Colony 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees payable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. This ensures that both parties are informed and can proceed with the registration process smoothly.

Frequently asked questions

What is the current guideline value of Harijan Colony 1st Street?

The current guideline value of Harijan Colony 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification for Harijan Colony 1st Street?

Harijan Colony 1st Street is classified as Residential Class III Type - I.

Where can I find the registration office for this area?

The registration office for Harijan Colony 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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, for a property valued at Rs 16,50,000, the total stamp duty and registration fees would amount to Rs 1,48,500.