Guideline Value for R.E. Nagar Ist Street

R.E. Nagar Ist Street guideline value

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

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

The guideline value for R.E. Nagar Ist Street has seen several revisions over the years. In 2002, the guideline value was Rs 219 per sq.ft. This increased to Rs 243 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 750 per sq.ft in 2007, reflecting a 209% increase. Following this, the value surged to Rs 3,200 per sq.ft in 2012, which was a substantial increase of 327%. However, in 2017, the value decreased to Rs 2,144 per sq.ft, a decline of 33%. The guideline value then increased to Rs 3,200 per sq.ft in 2023, showing a 49% rise, before reaching the current value of Rs 3,520 per sq.ft in 2024, which is a 10% increase.

There are no figures available for revisions in the years not listed above. The overall change from 2002 to 2024 shows an increase of 1507% in the guideline value.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values for 2024 ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value in this area is Rs 3,960 per sq.ft, which means that R.E. Nagar Ist Street's current guideline value is below this median.

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

Stamp duty and registration fee for property in R.E. Nagar Ist 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 fees 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 Ist Street?

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

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

The guideline value is a crucial factor in the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal issues during registration.

Frequently asked questions

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

The current guideline value of R.E. Nagar Ist 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, reflecting an overall increase of 1507% over the years.

What are the stamp duty and registration fees for property in R.E. Nagar Ist Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 3,16,800.

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

The Kunrathur Sub Registrar Office covers R.E. Nagar Ist Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

The land classification for R.E. Nagar Ist Street is Residential Special Type - II, indicating its designated use for residential purposes.