Guideline Value for R.E. Nagar IV th Street

R.E. Nagar IV th Street guideline value

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

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

The guideline value for R.E. Nagar IV th 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. Following this, there was a significant rise to Rs 750 per sq.ft in 2007, and it further increased to Rs 3,200 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 2,144 per sq.ft. The most recent revisions show a rise to Rs 3,200 per sq.ft in 2023 and a further increase to Rs 3,520 per sq.ft in 2024, marking a 10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1507%. The register has no figures for the years between 2017 and 2023, and for the years prior to 2002, there are no available records.

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 for these streets is Rs 3,960 per sq.ft, and R.E. Nagar IV th Street's 2024 figure is below this median.

• R.E. Nagar Ist Street (West): Rs 3,520 per sq.ft (2024)
• R.E.Nagar Ivth Street (West): Rs 3,520 per sq.ft (2024)
• R.E. Nagar Ist Street (East): Rs 3,520 per sq.ft (2024)
• R.E.Nagar Lane: 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 (West): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in R.E. Nagar IV th 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 amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.E. Nagar IV th Street?

The Sub Registrar Office that covers R.E. Nagar IV th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Porur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. These fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value helps in establishing a baseline for negotiations and ensures that both parties are aware of the official valuation set by the government. This transparency aids in smoother transactions and compliance with legal requirements.

Frequently asked questions

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

The current guideline value of R.E. Nagar IV th 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 seen multiple revisions, starting from Rs 219 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1507% over this period.

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

R.E. Nagar IV th Street is classified as Residential Special Type - II, which influences its guideline value and potential uses.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,520 per sq.ft, the total fees would amount to Rs 3,16,800.