Guideline Value for R.E. Nagar IIIrd Street

R.E. Nagar IIIrd Street guideline value

The current guideline value of R.E. Nagar IIIrd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of R.E. Nagar IIIrd Street has changed

The guideline value for R.E. Nagar IIIrd Street has seen several revisions over the years. In 2002, the value was Rs 219 per sq.ft, which increased to Rs 243 per sq.ft in 2003. The value then rose significantly to Rs 750 per sq.ft in 2007, followed by a substantial jump to Rs 3,200 per sq.ft in 2012. However, it decreased to Rs 2,144 per sq.ft in 2017. The value was Rs 3,200 per sq.ft again in 2023, before reaching the current rate of Rs 3,520 per sq.ft in 2024.

Notable changes between these revisions include an increase of 10% from 2023 to 2024, a 49% rise from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The value saw a remarkable increase of 327% from 2007 to 2012 and a 209% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1,507%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a guideline value for 2024, 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 of R.E. Nagar IIIrd Street is below this median.

• R.E. Nagar III rd Street (East): Rs 3,520 per sq.ft (2024)
• R.E.Nagar Erikkarai Road: Rs 3,520 per sq.ft (2024)
• R.E. Nagar III rd Street (West): Rs 3,520 per sq.ft (2024)
• R.E.Nagar 9th Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar II nd Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar 8th Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in R.E. Nagar IIIrd Street

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 be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, resulting in a total cost of Rs 3,16,800. 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 IIIrd Street?

The Sub Registrar Office that covers R.E. Nagar IIIrd Street 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 when buying or selling property in Porur. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should be aware that the guideline value is set by the Registration Department and can vary based on the location and type of property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. It is important for both parties to understand the implications of the guideline value on their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of R.E. Nagar IIIrd Street?

The current guideline value of R.E. Nagar IIIrd Street 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 219 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 1,507%.

What is the land classification for R.E. Nagar IIIrd Street?

The land classification for R.E. Nagar IIIrd Street is Residential Special Type - II.

Where can I find the registration office for R.E. Nagar IIIrd Street?

The registration office for R.E. Nagar IIIrd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in R.E. Nagar IIIrd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 35,20,000, and the stamp duty would be Rs 2,46,400.