Guideline Value for Porur-Kundrathur Road

Porur-Kundrathur Road guideline value

The current guideline value of Porur-Kundrathur Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Kovur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Porur-Kundrathur Road has changed

The guideline value for Porur-Kundrathur Road has undergone several revisions over the years. The earliest recorded figure is from 2003, with a value of Rs 185 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 116%. Following that, in 2012, the value increased to Rs 1,500 per sq.ft, which was a substantial increase of 275%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a drop of 33%. The guideline value then rose again to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,650 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 792%. It is important to note that there is no recorded figure for the year 2002 for this street in the register.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Porur-Kundrathur Road.

• Puroshthaman Nagar 3rd Street ext: Rs 2,750 per sq.ft (2024)
• RadhaBai Nagar: Rs 1,650 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Royal Nagar: Rs 1,650 per sq.ft (2024)
• Rv Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Porur-Kundrathur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Porur-Kundrathur Road?

The Porur-Kundrathur Road is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kovur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid paying more than necessary in taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Porur-Kundrathur Road?

The current guideline value of Porur-Kundrathur Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 185 per sq.ft to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 792% over the years.

What is the registration fee for property in Porur-Kundrathur Road?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000.

Which office handles property registrations in Kovur?

The Kunrathur Sub Registrar Office handles property registrations in Kovur. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How does the guideline value affect property transactions?

The guideline value is used as a reference point for property registration, ensuring that the government collects appropriate stamp duty and registration fees. Buyers and sellers should be aware of this value to ensure fair transactions.