Guideline Value for Harikrishna Street

Harikrishna Street guideline value

The current guideline value of Harikrishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Harikrishna Street has changed

Over the years, the guideline value of Harikrishna Street has seen significant changes. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 173%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft, representing an increase of 10% from the previous year.

There are no figures for Harikrishna Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Harikrishna Street's current value below this median.

• Govindasamy Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Road: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Janakiraman Street: Rs 3,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,950 per sq.ft (2024)
• Gangadharan Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Harikrishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harikrishna Street?

The Sub Registrar Office that covers Harikrishna Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Saligramam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the government receives a fair amount based on the established values of properties in the area.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Harikrishna Street?

The current guideline value of Harikrishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value of Harikrishna Street changed over the years?

The guideline value has changed significantly, starting from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 200% over this period.

What are the guideline values of other streets in Saligramam?

Other streets in Saligramam have varying guideline values, with rates ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft.

How is stamp duty calculated for properties in Harikrishna Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.

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

The Sub Registrar Office for Harikrishna Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of properties in the area.