Guideline Value for N.S.C. Bose Nagar Pearl Street

N.S.C. Bose Nagar Pearl Street guideline value

The current guideline value of N.S.C. Bose Nagar Pearl Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of N.S.C. Bose Nagar Pearl Street has changed

The guideline value for N.S.C. Bose Nagar Pearl Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the current 2024 revision has further increased it to Rs 3,960 per sq.ft. There are no figures available in the register for the years 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the current 2024 revision shows a modest increase of 10%.

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 the same as the current guideline value for N.S.C. Bose Nagar Pearl Street.

• N.S.C. Bose Nagar Meenatchi Street: Rs 3,960 per sq.ft (2024)
• N.S.C. Bose Nagar Silver Street: Rs 3,960 per sq.ft (2024)
• N.S.C. Bose Nagar Lakshmi Street: Rs 3,960 per sq.ft (2024)
• N.S.C. Bose Nagar Kamatchi Street: Rs 3,960 per sq.ft (2024)
• N.S.C. Bose Nagar Golden Street: Rs 3,960 per sq.ft (2024)
• N.S.C. Bose Nagar Gandhi Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.C. Bose Nagar Pearl 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 amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost for stamp duty and registration fee would be Rs 3,56,400. 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 N.S.C. Bose Nagar Pearl Street?

The N.S.C. Bose Nagar Pearl Street falls under 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 plays a crucial role in the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the government-mandated values, which helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of N.S.C. Bose Nagar Pearl Street?

The current guideline value of N.S.C. Bose Nagar Pearl 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 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. The value was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification for N.S.C. Bose Nagar Pearl Street?

N.S.C. Bose Nagar Pearl Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, 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.