Guideline Value for R.E.Nagar Lane

R.E.Nagar Lane guideline value

The current guideline value of R.E.Nagar Lane 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 Lane has changed

Starting from the 2012 revision, the guideline value for R.E.Nagar Lane was Rs 3,200 per sq.ft. In the 2017 revision, it decreased to Rs 2,144 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 3,200 per sq.ft, followed by another increase to Rs 3,520 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2023 to 2024 revision shows a 10% increase, while the jump from 2017 to 2023 indicates a substantial 49% rise. There are no figures available for the years 2002, 2003, and 2007 in the register 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. The median guideline value for these streets is Rs 3,960 per sq.ft, placing R.E.Nagar Lane's current value below the median.

• R.E.Nagar Ivth Street (West): 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 (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 Lane

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, while 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.

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

Which Sub Registrar Office covers R.E.Nagar Lane?

The R.E.Nagar Lane is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It determines the minimum price at which the property can be sold and helps in calculating the stamp duty and registration fees.

When a property transaction occurs, the guideline value is referenced to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers must be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of R.E.Nagar Lane 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 several revisions, with the most recent being an increase from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024. From 2012 to 2024, the overall change is an increase of 10%.

What is the land classification of R.E.Nagar Lane?

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

What is the stamp duty rate for properties in R.E.Nagar Lane?

The stamp duty rate for properties in R.E.Nagar Lane is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and is responsible for property registrations in the area.