Guideline Value for Harrington 16th Avenue

Harrington 16th Avenue guideline value

The current guideline value of Harrington 16th Avenue is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Mixed Type - I land classification.

How the guideline value of Harrington 16th Avenue has changed

The guideline value for Harrington 16th Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,440 per sq.ft, which increased to Rs 2,756 per sq.ft in 2003, marking a change of +91%. The value then rose to Rs 4,000 per sq.ft in 2007, representing a +45% increase. Following this, the 2012 revision set the value at Rs 12,300 per sq.ft, reflecting a substantial increase of +208%. However, in 2017, the value dropped to Rs 8,241 per sq.ft, a decrease of -33%. The 2023 revision brought the value back up to Rs 12,300 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 13,400 per sq.ft, which is an increase of +9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +831%. There are no figures available for other revisions for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Harrington 16th Avenue's 2024 guideline value is above this median.

• Harrington 15th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 17th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 14th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 1st Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 13th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 2nd Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harrington 16th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, bringing the total fees to Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harrington 16th Avenue?

The Sub Registrar Office that covers Harrington 16th Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Egmore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is transparent and fair. It serves as a benchmark for both buyers and sellers, providing a standardized valuation that is recognized by the registration authorities.

Frequently asked questions

What is the current guideline value of Harrington 16th Avenue?

The current guideline value of Harrington 16th Avenue is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,440 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of +831% over this period.

What is the stamp duty for property in Harrington 16th Avenue?

The stamp duty for property in Harrington 16th Avenue is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 9,38,000.

Which Sub Registrar Office covers Harrington 16th Avenue?

The Periamet Sub Registrar Office covers Harrington 16th Avenue, and it is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, while Harrington 16th Avenue's value of Rs 13,400 per sq.ft is above this median.