Guideline Value for R.E. Nagar Ist Street (West)

R.E. Nagar Ist Street (West) guideline value

The current guideline value for R.E. Nagar Ist 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 Ist Street (West) has changed

The guideline value for R.E. Nagar Ist Street (West) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,200 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,520 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, 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, with a median value of Rs 3,960 per sq.ft. The guideline value for R.E. Nagar Ist Street (West) is below this median.

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

Stamp duty and registration fee for property in R.E. Nagar Ist 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, bringing the total cost to Rs 3,16,800. Please 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 further calculations.

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

The Sub Registrar Office that covers R.E. Nagar Ist 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 an essential factor when registering property transactions in Porur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is used to determine the minimum price at which the property can be registered. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of R.E. Nagar Ist 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 for R.E. Nagar Ist Street (West) has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

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

R.E. Nagar Ist Street (West) is classified as Residential Special Type - II. This classification may affect the types of developments permitted in the area.

What are the stamp duty and registration fees for property transactions here?

For a property valued at 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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for this area?

The Kunrathur Sub Registrar Office handles property registrations for R.E. Nagar Ist Street (West). It is located at No.59, Road Street, Kundrathur, Chennai -600 069.