Guideline Value for R.E. Nagar II nd Street (West)

R.E. Nagar II nd Street (West) guideline value

The current guideline value of R.E. Nagar II nd Street (West) is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of R.E. Nagar II nd Street (West) has changed

The guideline value for R.E. Nagar II nd Street (West) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 3,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,144 per sq.ft, marking a significant increase of 49% from the previous revision in 2023. The 2012 revision also noted a value of Rs 3,200 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means that the changes in guideline value during those years are not documented.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have 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 for R.E. Nagar II nd Street (West) is below this median.

• R.E. Nagar II nd Street (East): Rs 3,520 per sq.ft (2024)
• R.E. Nagar Ist Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar II nd Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar Ist Street (East): Rs 3,520 per sq.ft (2024)
• R.E. Nagar III rd Street (West): Rs 3,520 per sq.ft (2024)
• R.E. Nagar Ist Street (West): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in R.E. Nagar II nd Street (West)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400, bringing the total fees to 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.E. Nagar II nd Street (West)?

The R.E. Nagar II nd Street (West) falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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 calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value is used to determine the taxes owed, which can be significant. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately assess the financial implications of a property transaction.

Frequently asked questions

What is the current guideline value of R.E. Nagar II nd Street (West)?

The current guideline value of R.E. Nagar II nd Street (West) 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 from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, a 10% increase. It was Rs 2,144 per sq.ft in 2017, and Rs 3,200 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification for R.E. Nagar II nd Street (West)?

R.E. Nagar II nd Street (West) is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000. The stamp duty at 7% is Rs 2,46,400, and the registration fee at 2% is Rs 70,400, totaling Rs 3,16,800.

Where can I find the Sub Registrar Office for R.E. Nagar II nd Street (West)?

The Kunrathur Sub Registrar Office covers R.E. Nagar II nd Street (West) and is located at No.59, Road Street, Kundrathur, Chennai -600 069.