Guideline Value for Faith House II nd Street

Faith House II nd Street guideline value

The current guideline value of Faith House II nd Street in Porur village, under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Faith House II nd Street has changed

The guideline value for Faith House II nd Street has seen several revisions over the years. In 2002, the value was Rs 212 per sq.ft, which increased to Rs 600 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then it jumped to Rs 3,600 per sq.ft in 2012. However, it decreased to Rs 2,412 per sq.ft in 2017. The 2023 revision saw the value increase to Rs 3,600 per sq.ft, and the latest revision in 2024 has set it at Rs 3,960 per sq.ft.

Between the revisions, notable changes include a 183% increase from 2002 to 2003, a 67% increase from 2003 to 2007, and a substantial 260% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value of Faith House II nd Street.

• Faith House Ist Street: Rs 3,960 per sq.ft (2024)
• E.V.P, Sapthagiri Nagar: Rs 3,520 per sq.ft (2024)
• E.V.P. Santhosh Nagar: Rs 3,520 per sq.ft (2024)
• Ganapathy Nagar: Rs 4,950 per sq.ft (2024)
• Ganapathy Nagar 1st Street: Rs 4,950 per sq.ft (2024)
• Ganapathy Nagar Iind Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Faith House II nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, totaling Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Faith House II nd Street?

The Sub Registrar Office that covers Faith House II nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property registration in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately. Buyers and sellers must consider this value when negotiating property prices to meet legal requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Faith House II nd Street?

The current guideline value of Faith House II nd Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 212 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification for Faith House II nd Street?

The land classification for Faith House II nd Street is Residential Special Type - I.

What are the stamp duty and registration fees for a property in Faith House II nd Street?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.