Guideline Value for Sterling Avenue 1st Street

Sterling Avenue 1st Street guideline value

The current guideline value of Sterling Avenue 1st Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Sterling Avenue 1st Street has changed

The guideline value for Sterling Avenue 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,900 per sq.ft. This figure was revised to Rs 2,613 per sq.ft in 2017, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,900 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 4,290 per sq.ft, which is a 10% increase from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 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 with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Sterling Avenue 1st Street above the median.

• Sterling Avenue: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 2nd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 3rd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 4th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 5th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 6th Street: Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Sterling Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value amounts to Rs 42,90,000. The stamp duty at 7% would be Rs 3,00,300, while the registration fee at 2% would be Rs 85,800, bringing the total cost to Rs 3,86,100. 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 Sterling Avenue 1st Street?

The Sub Registrar Office that covers Sterling Avenue 1st Street is 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 critical factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property for both parties involved. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sterling Avenue 1st Street?

The current guideline value of Sterling Avenue 1st Street is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,900 per sq.ft in 2012 to Rs 2,613 per sq.ft in 2017, then back to Rs 3,900 per sq.ft in 2023, and finally to Rs 4,290 per sq.ft in 2024.

What is the land classification for Sterling Avenue 1st Street?

The land classification for Sterling Avenue 1st Street is Mixed Special Type - II.

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

For a property valued at Rs 42,90,000, the stamp duty at 7% would be Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, totaling Rs 3,86,100.

Which office handles property registrations for Sterling Avenue 1st Street?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles property registrations for Sterling Avenue 1st Street.