Guideline Value for Harris Street

Harris Street guideline value

The current guideline value of Harris Street in Koyakbedu village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Harris Street has changed

Over the years, the guideline value of Harris Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The subsequent revision in 2023 saw it rise to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Harris Street's 2024 figure below that median.

• H Block 13th Main Road: Rs 13,100 per sq.ft (2024)
• H Block 15th Main Road: Rs 13,100 per sq.ft (2024)
• H Block 16th Main Road: Rs 13,100 per sq.ft (2024)
• Govind Garden: Rs 3,300 per sq.ft (2024)
• Jagadhambal Colony: Rs 3,300 per sq.ft (2024)
• Jaggammal Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Harris Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Harris Street?

The Sub Registrar Office that covers Harris Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Harris Street?

The current guideline value of Harris Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Harris Street?

Harris Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

What are the stamp duty and registration fees for property in Harris Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Harris Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Harris Street.