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

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

The current guideline value of R.E.Nagar Ivth 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, classified as Residential Special Type - II.

How the guideline value of R.E.Nagar Ivth Street (West) has changed

The guideline value for R.E.Nagar Ivth Street (West) has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,200 per sq.ft, and the latest revision in 2024 has raised it further to Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 2,144 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2023, and then to Rs 3,520 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 do not have figures listed for this street.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, indicating that R.E.Nagar Ivth Street (West) is below this median.

• R.E. Nagar IV th Street: Rs 3,520 per sq.ft (2024)
• R.E.Nagar Lane: Rs 3,520 per sq.ft (2024)
• R.E. Nagar Ist 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 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 Ivth 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 fees together 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.

You can use our stamp duty and registration fee calculator for more information.

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

The R.E.Nagar Ivth Street (West) falls under the jurisdiction of 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 is a crucial reference for property transactions in Porur. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property, ensuring that both parties are aware of the official value set by the government.

When registering a property, the guideline value serves as a benchmark for the transaction, and it is essential for buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of R.E.Nagar Ivth 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 has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the registration office for R.E.Nagar Ivth Street (West)?

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

What are the stamp duty and registration fees for a property in this area?

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.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as an official benchmark for the property's value, ensuring transparency in the registration process.