Guideline Value for Sterling Avenue 2nd Street

Sterling Avenue 2nd Street guideline value

The current guideline value of Sterling Avenue 2nd Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur Sub Registrar Office (SRO) and is classified as Mixed Special Type - II.

How the guideline value of Sterling Avenue 2nd Street has changed

In the 2012 revision, the guideline value was Rs 3,900 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, where it decreased to Rs 2,613 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 3,900 per sq.ft, and the 2024 revision further increased it to Rs 4,290 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a 10% increase in the guideline value.

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 Sterling Avenue 2nd Street above this median.

• Sterling Avenue 1st Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 3rd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue: 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 2nd 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, and the registration fee at 2% would be Rs 85,800, making the total cost for these fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sterling Avenue 2nd Street?

The Sterling Avenue 2nd Street falls under 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 crucial factor in property transactions as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buying or selling property in Porur, both the buyer and seller must be aware of the current guideline value to ensure compliance with local regulations. This value helps to establish a fair transaction and is essential for the proper documentation of the property transfer.

Frequently asked questions

What is the current guideline value of Sterling Avenue 2nd Street?

The current guideline value of Sterling Avenue 2nd 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 seen several revisions, with the most recent increase from Rs 3,900 per sq.ft in 2023 to Rs 4,290 per sq.ft in 2024, marking a 10% increase. The value has increased significantly from Rs 2,613 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Sterling Avenue 2nd Street?

For a property valued at Rs 42,90,000, the stamp duty would be Rs 3,00,300 and the registration fee would be Rs 85,800, totaling Rs 3,86,100. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Sterling Avenue 2nd Street?

The Kunrathur Sub Registrar Office handles the registration for Sterling Avenue 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Sterling Avenue 2nd Street?

Sterling Avenue 2nd Street is classified as Mixed Special Type - II, indicating its suitability for various types of development and use.