Guideline Value for Harrington 2nd Avenue

Harrington 2nd Avenue guideline value

The current guideline value of Harrington 2nd 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 the land classification is Mixed Type - I.

How the guideline value of Harrington 2nd Avenue has changed

The guideline value for Harrington 2nd Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,920 per sq.ft. This increased to Rs 2,314 per sq.ft in 2003, marking a 21% rise. The value further increased to Rs 5,195 per sq.ft in 2007, reflecting a 125% change. In 2012, the value was Rs 12,300 per sq.ft, which was a 137% increase from the previous revision. However, it dropped to Rs 8,241 per sq.ft in 2017, showing a decrease of 33%. The guideline value then rose to Rs 12,300 per sq.ft in 2023, and finally to Rs 13,400 per sq.ft in 2024, indicating a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 598%. The register has no figures for the years not mentioned.

Guideline values in Egmore

In Egmore, 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 2nd Avenue's 2024 guideline value is above this median.

• Harrington 1st Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 3rd Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 17 th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 4th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 16th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 5th Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harrington 2nd 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, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Harrington 2nd Avenue?

The Sub Registrar Office that covers Harrington 2nd 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 an essential factor in property transactions, as it determines the amount of stamp duty and registration fees payable during the registration process. When buying or selling property, the guideline value serves as a benchmark for calculating these costs, ensuring that they are based on the official rates set by the government.

It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This ensures that all parties involved are informed about the applicable fees and charges based on the guideline value set for the property.

Frequently asked questions

What is the current guideline value of Harrington 2nd Avenue?

The current guideline value of Harrington 2nd 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 1,920 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What is the stamp duty rate for properties in Harrington 2nd Avenue?

The stamp duty rate for properties in Harrington 2nd Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Harrington 2nd Avenue located?

The Sub Registrar Office for Harrington 2nd Avenue is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Harrington 2nd Avenue?

The land classification for Harrington 2nd Avenue is Mixed Type - I, indicating the type of development permissible in this area.