Guideline Value for HarringtonLane

HarringtonLane guideline value

The current guideline value of HarringtonLane 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 HarringtonLane has changed

The guideline value for HarringtonLane has seen several revisions 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. The value continued to rise significantly, reaching Rs 4,000 per sq.ft in 2007, which was a 152% increase from the previous revision. The 2012 revision saw a decrease to Rs 12,300 per sq.ft, a drop of 33%. However, the value rebounded to Rs 8,241 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 12,300 per sq.ft, and the current value in 2024 is Rs 13,400 per sq.ft, showing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 831%. There are no other revisions with figures available for HarringtonLane in the register.

Guideline values in Egmore

The 2024 guideline values for streets in Egmore under the Periamet SRO range from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. HarringtonLane's 2024 figure of Rs 13,400 per sq.ft is above this median.

• Harrington 9thAvenue: Rs 13,400 per sq.ft (2024)
• Harrington Road: Rs 18,100 per sq.ft (2024)
• Harrington 8th avenue: Rs 13,400 per sq.ft (2024)
• Harris lane: Rs 10,100 per sq.ft (2024)
• Harrington 7thAvenue: Rs 13,400 per sq.ft (2024)
• Harris Road (Adhithanar Salai): Rs 15,000 per sq.ft (2024)

Stamp duty and registration fee for property in HarringtonLane

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 cost for these fees to Rs 12,06,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers HarringtonLane?

The Sub Registrar Office that covers HarringtonLane 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 when registering property transactions in Egmore. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value helps ensure compliance with legal requirements. It also aids in determining the financial implications of the transaction, as these fees can significantly affect the overall cost.

Frequently asked questions

What is the current guideline value of HarringtonLane?

The current guideline value of HarringtonLane 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 are the registration fees for property in HarringtonLane?

For a property valued at Rs 1,34,00,000, the stamp duty would be Rs 9,38,000, and the registration fee would be Rs 2,68,000, totaling Rs 12,06,000.

Which office handles property registration for HarringtonLane?

The Periamet Sub Registrar Office handles property registration for HarringtonLane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees for property transactions. It ensures that buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.