Guideline Value for Harikrishna Colony

Harikrishna Colony guideline value

The current guideline value of Harikrishna Colony in Nandhambakkam village under the Alandur SRO is Rs 3,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Harikrishna Colony has changed

The guideline value for Harikrishna Colony has seen significant changes over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 3,500 per sq.ft, and then it further increased to Rs 3,900 per sq.ft in 2024, marking an 11% rise from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 reflects a substantial increase of 290% in the guideline value.

Guideline values in Nandhambakkam

Nandhambakkam has a variety of guideline values across its 76 streets under the Alandur SRO, with the 2024 figures ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Harikrishna Colony.

• Harington Road: Rs 4,400 per sq.ft (2024)
• I.D.P.Lquarters: Rs 4,400 per sq.ft (2024)
• I.D.P.L Road: Rs 4,400 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram Main Road: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram First Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Harikrishna Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the guideline value totals Rs 39,00,000. The stamp duty at 7% amounts to Rs 2,73,000, and the registration fee at 2% is Rs 78,000, bringing the total cost to Rs 3,51,000. 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 further assistance.

Which Sub Registrar Office covers Harikrishna Colony?

The Harikrishna Colony is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nandhambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When buyers and sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Harikrishna Colony?

The current guideline value of Harikrishna Colony is Rs 3,900 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 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 290%.

What is the land classification for Harikrishna Colony?

The land classification for Harikrishna Colony is Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the stamp duty is Rs 2,73,000, and the registration fee is Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, covers Harikrishna Colony.