Guideline Value for Suresh Nagar 1st Street

Suresh Nagar 1st Street guideline value

The current guideline value of Suresh Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Suresh Nagar 1st Street has changed

The guideline value for Suresh Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 2,144 per sq.ft. Following this, the 2023 revision increased the value to Rs 3,200 per sq.ft, and the most recent 2024 revision has set it at Rs 3,520 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen an increase of 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, with a median value of Rs 3,960 per sq.ft. The guideline value of Suresh Nagar 1st Street is below this median.

• Suresh Nagar: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar Cross Road: Rs 3,520 per sq.ft (2024)
• Suresh Nagar, Krishna Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Suresh Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Suresh Nagar 1st Street?

The Suresh Nagar 1st 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 critical factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid by the buyer during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations. Buyers should be aware of the guideline value to understand their financial obligations better.

Frequently asked questions

What is the current guideline value of Suresh Nagar 1st Street?

The current guideline value of Suresh Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally set at Rs 3,520 per sq.ft in 2024.

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

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations for Suresh Nagar 1st Street?

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

What is the land classification for Suresh Nagar 1st Street?

Suresh Nagar 1st Street is classified as Residential Special Type - II, indicating its designation for residential purposes.