Guideline Value for Present Avenue

Present Avenue guideline value

The current guideline value of Present Avenue in Porur village, under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Present Avenue has changed

The guideline value for Present Avenue has seen several revisions over the years. In 2007, the value was Rs 1,297 per sq.ft, which increased significantly to Rs 3,600 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 2,412 per sq.ft, a decline of 33%. The subsequent revision in 2023 raised the value to Rs 3,600 per sq.ft, and the latest revision in 2024 set it at Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 205%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Porur

In Porur village, 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 is Rs 3,960 per sq.ft, which is equal to the current guideline value of Present Avenue.

• Poothapedu School Street: Rs 4,950 per sq.ft (2024)
• Poothapedu Main Road (Highways): Rs 4,950 per sq.ft (2024)
• Poothapedu Burial Ground Road: Rs 3,520 per sq.ft (2024)
• Rajagopal Street: Rs 4,290 per sq.ft (2024)
• Pillaiyar koil Street Lane: Rs 3,520 per sq.ft (2024)
• Pillaiyar koil Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Present Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to 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, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Present Avenue?

The Sub Registrar Office that covers Present Avenue 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 compared with the sale price, and the duty is charged on the higher of the two. This ensures that the registration process is transparent and fair, reflecting the current value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Present Avenue?

The current guideline value of Present Avenue 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 1,297 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 205% over the years.

What is the land classification for Present Avenue?

Present Avenue is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty rates for property in Present Avenue?

The stamp duty rate for property in Present Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Present Avenue?

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