Guideline Value for Harijan Colony 2nd Street

Harijan Colony 2nd Street guideline value

The current guideline value of Harijan Colony 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Harijan Colony 2nd Street has changed

The guideline value for Harijan Colony 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose to Rs 1,500 per sq.ft in 2023 before reaching the current rate of Rs 1,650 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 313%, reflecting significant changes over the years.

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. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Harijan Colony 2nd Street's current value below that median.

• Harijan Colony 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harijan Colony 2nd Street?

The Sub Registrar Office that covers Harijan Colony 2nd 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 details.

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

The guideline value is an important factor in the registration process for buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the actual sale price or the guideline value, whichever is higher, is used to calculate the applicable duties. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Harijan Colony 2nd Street?

The current guideline value of Harijan Colony 2nd 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 significantly 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 2nd Street?

Harijan Colony 2nd Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Harijan Colony 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Harijan Colony 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000.