Guideline Value for R.E. Nagar III rd Street (West)

R.E. Nagar III rd Street (West) guideline value

The current guideline value of R.E. Nagar III rd 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 III rd Street (West) has changed

The guideline value has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,200 per sq.ft. Prior to this, the 2017 revision recorded a value of Rs 2,144 per sq.ft, marking a significant increase of 49% from that year to 2023. The 2012 revision also had a value of Rs 3,200 per sq.ft, which was a decrease of 33% from the 2017 value.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with 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, placing R.E. Nagar III rd Street (West) below this median.

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

Stamp duty and registration fee for property in R.E. Nagar III rd 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 amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, summing up to a total of Rs 3,16,800. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers R.E. Nagar III rd Street (West)?

The Sub Registrar Office that covers R.E. Nagar III rd Street (West) 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 minimum value at which a property can be registered, ensuring transparency in property transactions.

When you register a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of R.E. Nagar III rd 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, showing a 49% rise to 2023.

What is the land classification of R.E. Nagar III rd Street (West)?

R.E. Nagar III rd Street (West) is classified as Residential Special Type - II.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot valued at Rs 3,520 per sq.ft, the total guideline value is Rs 35,20,000. The stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles the registration for R.E. Nagar III rd Street (West)?

The Kunrathur Sub Registrar Office handles the registration for R.E. Nagar III rd Street (West), located at No.59, Road Street, Kundrathur, Chennai -600 069.