Guideline Value for R.E.Nagar 9th Street

R.E.Nagar 9th Street guideline value

The current guideline value for R.E.Nagar 9th 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 is classified as Residential Special Type - II.

How the guideline value of R.E.Nagar 9th Street has changed

The guideline value for R.E.Nagar 9th Street has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 3,200 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 2,144 per sq.ft, marking a decrease of 33%. In 2023, the value increased significantly to Rs 3,200 per sq.ft, and the latest revision in 2024 shows an increase of 10%, bringing the current value to Rs 3,520 per sq.ft.

There are no figures available for the years 2002, 2003, and 2007 in the register 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 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 9th Street is below this median.

• R.E. Nagar 8th Street: Rs 3,520 per sq.ft (2024)
• R.E.Nagar Erikkarai Road: Rs 3,520 per sq.ft (2024)
• R.E. Nagar 7th Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar 5th Street to Melpallikuppam (West): Rs 3,520 per sq.ft (2024)
• R.E. Nagar IIIrd Street: Rs 3,520 per sq.ft (2024)
• R.E. Nagar 5th Street to Melpallikuppam (East): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in R.E.Nagar 9th Street

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. It is important to note that stamp duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers R.E.Nagar 9th Street?

The R.E.Nagar 9th Street is covered by 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 critical factor in property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of R.E.Nagar 9th Street?

The current guideline value of R.E.Nagar 9th 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 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 9th Street?

R.E.Nagar 9th Street is classified as Residential Special Type - II.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in R.E.Nagar 9th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400.