Guideline Value for Sterling Avenue

Sterling Avenue guideline value

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

How the guideline value of Sterling Avenue has changed

The guideline value for Sterling Avenue has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,900 per sq.ft in 2012. However, it then decreased to Rs 2,613 per sq.ft in 2017. The value rose again to Rs 3,900 per sq.ft in 2023, before reaching the current figure of Rs 4,290 per sq.ft in 2024.

Between these revisions, notable changes include a 290% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is a remarkable increase of 329%. The register has no figures for the years 2002 and 2003 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, with a median value of Rs 3,960 per sq.ft. Sterling Avenue's current value is above this median.

• Sterling Avenue 1st Street: 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

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 amount to Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, leading to a total cost of 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?

The Sub Registrar Office covering Sterling Avenue 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 an essential factor in the registration process when buying or selling property in Porur. It determines the baseline for calculating stamp duty and registration fees, which are mandatory costs in property transactions.

When a property is registered, the guideline value is used to assess the applicable taxes, ensuring that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Sterling Avenue?

The current guideline value of Sterling Avenue 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,290 per sq.ft in 2024, reflecting an overall increase of 329% over this period.

What are the other streets in Porur with the same guideline value?

Other streets in Porur that share the same guideline value of Rs 4,290 per sq.ft include Sterling Avenue 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and 6th Street.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,00,300, and the registration fee would be Rs 85,800, totaling Rs 3,86,100.

Which office handles property registrations in Sterling Avenue?

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