Guideline Value for Hospital Road

Hospital Road guideline value

The current guideline value of Hospital Road in Porur village, under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Hospital Road has changed

The guideline value for Hospital Road has seen significant changes over the years. In the 2002 revision, the value was Rs 305 per sq.ft, which increased to Rs 409 per sq.ft in 2003, marking a 34% rise. The value continued to rise, reaching Rs 750 per sq.ft in 2007, a substantial increase of 83%. The 2012 revision saw the value at Rs 3,200 per sq.ft, which was a 327% increase from the previous revision. However, this figure dropped to Rs 2,144 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,200 per sq.ft, an increase of 49%. The latest revision in 2024 set the value at Rs 3,520 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,054%.

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, with a median value of Rs 3,960 per sq.ft. The guideline value of Hospital Road is below this median.

• Irular Colony: Rs 3,520 per sq.ft (2024)
• Irular Colony Lane: Rs 3,520 per sq.ft (2024)
• Govindaraj Nagar: Rs 3,960 per sq.ft (2024)
• Gokul Garden: Rs 4,950 per sq.ft (2024)
• Javahar Nagar Pilliyar Koil Street: Rs 3,960 per sq.ft (2024)
• Jayabharathi nagar 1st Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Hospital Road

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hospital Road?

The Sub Registrar Office that covers Hospital Road 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 the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller are aware of the financial implications involved in the sale. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Hospital Road?

The current guideline value of Hospital Road is Rs 3,520 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 305 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 1,054%.

What is the land classification for Hospital Road?

The land classification for Hospital Road is Residential Special Type - II.

What is the registration office for Hospital Road?

The registration office covering Hospital Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties on Hospital Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would have a guideline value of Rs 35,20,000, leading to a stamp duty of Rs 2,46,400.