Guideline Value for Sterling Avenue 3rd Street

Sterling Avenue 3rd Street guideline value

The current guideline value of Sterling Avenue 3rd Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Sterling Avenue 3rd Street has changed

The guideline value for Sterling Avenue 3rd Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which had a guideline value of Rs 3,900 per sq.ft. This was followed by a decrease to Rs 2,613 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,900 per sq.ft, and the latest revision in 2024 has set the value at Rs 4,290 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

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 value in this area is Rs 3,960 per sq.ft, making the guideline value of Sterling Avenue 3rd Street above this median.

• Sterling Avenue 2nd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 4th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 1st Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 5th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue: 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 3rd 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, 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.

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

Which Sub Registrar Office covers Sterling Avenue 3rd Street?

The Sub Registrar Office that covers Sterling Avenue 3rd Street is 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 plays a crucial role during the registration of property transactions in Porur. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sterling Avenue 3rd Street?

The current guideline value of Sterling Avenue 3rd 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 of Sterling Avenue 3rd Street?

Sterling Avenue 3rd Street is classified as Mixed Special Type - II.

Where can I find the registration office for this area?

The registration office for Sterling Avenue 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 42,90,000, the stamp duty would be Rs 3,00,300 at 7%.