Guideline Value for Harrington 1st Avenue

Harrington 1st Avenue guideline value

The current guideline value of Harrington 1st 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 has a land classification of Mixed Type - I.

How the guideline value of Harrington 1st Avenue has changed

The guideline value for Harrington 1st Avenue has seen significant changes over the years. In 2002, the value was Rs 1,440 per sq.ft, which increased to Rs 1,588 per sq.ft in 2003, marking a 10% rise. Following that, the value rose dramatically to Rs 4,000 per sq.ft in 2007, reflecting an increase of 152%. The value then continued to rise to Rs 12,300 per sq.ft in 2012, a substantial 208% increase. However, between 2012 and 2017, the value decreased to Rs 8,241 per sq.ft, showing a decline of 33%. The guideline value then increased significantly to Rs 12,300 per sq.ft in 2023, followed by a further rise to Rs 13,400 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 831%. The register does not have figures for any other revisions for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, and Harrington 1st Avenue's current value is above this median.

• Harrington 17 th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 2nd Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 16th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 3rd Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 15th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 4th Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harrington 1st Avenue

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

Which Sub Registrar Office covers Harrington 1st Avenue?

The Sub Registrar Office covering Harrington 1st 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 the registration process when buying or selling property in Egmore. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Harrington 1st Avenue?

The current guideline value of Harrington 1st 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 increased 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 the years.

What is the registration office for Harrington 1st Avenue?

The registration office for Harrington 1st Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Harrington 1st Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 9,38,000.

What is the land classification of Harrington 1st Avenue?

The land classification for Harrington 1st Avenue is Mixed Type - I, which is relevant for understanding the usage and zoning regulations in the area.