Guideline Value for Harrington 7thAvenue

Harrington 7thAvenue guideline value

The current guideline value of Harrington 7thAvenue is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Mixed Type - I land.

How the guideline value of Harrington 7thAvenue has changed

The guideline value for Harrington 7thAvenue has seen significant changes over the years. The earliest available figure is from 2002, when the value was Rs 1,440 per sq.ft. This increased to Rs 1,588 per sq.ft in 2003, marking a 10% rise. By 2007, the value had jumped to Rs 4,000 per sq.ft, reflecting a substantial increase of 152%. The 2012 revision saw a decrease to Rs 12,300 per sq.ft, a decline of 33%. In 2017, the value rose to Rs 8,241 per sq.ft, and then in 2023, it increased to Rs 12,300 per sq.ft. The most recent revision in 2024 set the value at Rs 13,400 per sq.ft, which represents a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 831%. Notably, there are no figures available for the revisions in the years 2012 to 2017 for this street.

Guideline values in Egmore

The village of Egmore has a total of 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, positioning Harrington 7thAvenue above this median.

• Harrington 6th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 8th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 5thAvenue: Rs 13,400 per sq.ft (2024)
• Harrington 9th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington 4th Avenue: Rs 13,400 per sq.ft (2024)
• Harrington Lane: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Harrington 7thAvenue

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, resulting in a total of Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harrington 7thAvenue?

The Sub Registrar Office that covers Harrington 7thAvenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Egmore. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable at the time of registration. It is essential to be aware of the current guideline value to ensure compliance with local regulations.

Additionally, the guideline value serves as a benchmark for property transactions in the area, ensuring that both buyers and sellers are informed of the official rates set by the Registration Department. This helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Harrington 7thAvenue?

The current guideline value of Harrington 7thAvenue 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 significantly 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 registration office for Harrington 7thAvenue?

The registration office for Harrington 7thAvenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Harrington 7thAvenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 1,34,00,000, the stamp duty at 7% would be Rs 9,38,000.

What is the land classification for Harrington 7thAvenue?

The land classification for Harrington 7thAvenue is Mixed Type - I, which is relevant for understanding the applicable regulations and guidelines for property transactions in the area.