Guideline Value for Sterling Avenue 5th Street

Sterling Avenue 5th Street guideline value

The current guideline value of Sterling Avenue 5th 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 falls under the Mixed Special Type - II land classification.

How the guideline value of Sterling Avenue 5th Street has changed

Looking at the historical revisions, the guideline value for Sterling Avenue 5th Street was Rs 3,900 per sq.ft in 2023, which increased to Rs 4,290 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 2,613 per sq.ft. This indicates a significant increase of +49% from 2017 to 2023.

In the earlier revision of 2012, the guideline value was Rs 3,900 per sq.ft, which represented a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, making Sterling Avenue 5th Street's 2024 figure above that median.

• Sterling Avenue 4th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 6th Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 3rd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue Main Road: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 2nd Street: Rs 4,290 per sq.ft (2024)
• Sterling Avenue 1st Street: Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Sterling Avenue 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value would be 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 to Rs 3,86,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sterling Avenue 5th Street?

The Sub Registrar Office that covers Sterling Avenue 5th 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 plays a crucial role in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for calculating the financial obligations associated with the transaction, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Sterling Avenue 5th Street?

The current guideline value of Sterling Avenue 5th 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 2023 to Rs 4,290 per sq.ft in 2024, a +10% increase. It was Rs 2,613 per sq.ft in 2017, showing a +49% increase from 2017 to 2023.

What is the land classification for Sterling Avenue 5th Street?

Sterling Avenue 5th Street falls under the Mixed Special Type - II land classification, which is relevant for understanding its usage and development potential.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Porur?

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