Guideline Value for Harris lane

Harris lane guideline value

The current guideline value of Harris lane, located in Egmore village under the Periamet SRO, is Rs 10,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Harris lane has changed

The guideline value for Harris lane has seen significant changes over the years. In 2002, the guideline value was Rs 602 per sq.ft. This increased to Rs 664 per sq.ft in 2003, marking a 10% rise. The value continued to climb, reaching Rs 4,200 per sq.ft in 2007, which represented a substantial increase of 533%. Following this, the value rose to Rs 9,200 per sq.ft in 2012, reflecting a 119% increase from the previous revision. However, there was a decrease of 33% to Rs 6,164 per sq.ft in 2017. The value then increased significantly to Rs 9,200 per sq.ft in 2023, and finally, it reached Rs 10,100 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1578%. There are no figures available for the years not listed in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with 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, placing Harris lane's 2024 figure above that median.

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

Stamp duty and registration fee for property in Harris lane

For a 1,000 sq.ft plot at the current guideline value of Rs 10,100 per sq.ft, the total guideline value amounts to Rs 1,01,00,000. The stamp duty at 7% would be Rs 7,07,000, and the registration fee at 2% would be Rs 2,02,000, bringing the total to Rs 9,09,000. It is important to note that the 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 Harris lane?

The Sub Registrar Office that covers Harris lane 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 serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When you buy or sell a property, the guideline value helps determine the minimum price at which the property can be registered. This means that if the sale price is lower than the guideline value, the higher guideline value will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Harris lane?

The current guideline value of Harris lane is Rs 10,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 602 per sq.ft in 2002 to Rs 10,100 per sq.ft in 2024, reflecting an overall increase of 1578% over this period.

What is the land classification for Harris lane?

The land classification for Harris lane is Mixed Type - II. This classification indicates the type of development and usage allowed in the area.

Where can I find the Sub Registrar Office for Harris lane?

The Sub Registrar Office for Harris lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Harris lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,01,00,000, the stamp duty at 7% would be Rs 7,07,000.