Guideline Value for Suresh Nagar, Krishna Street

Suresh Nagar, Krishna Street guideline value

The current guideline value of Suresh Nagar, Krishna Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Suresh Nagar, Krishna Street has changed

The guideline value for Suresh Nagar, Krishna Street has seen various revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then rose again to the current value of Rs 3,520 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The guideline value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the 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 for these streets is Rs 3,960 per sq.ft, making the current value of Suresh Nagar, Krishna Street below the median.

• Suresh Nagar Cross Road: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Suresh Nagar, Krishna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, leading to a total of Rs 3,16,800. It is important to note that 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 details.

Which Sub Registrar Office covers Suresh Nagar, Krishna Street?

The Sub Registrar Office that covers Suresh Nagar, Krishna Street is 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 when buying or selling property in Porur, as it determines the amount of stamp duty and registration fees that need to be paid. Buyers should be aware that the guideline value is set by the government and reflects the minimum value at which a property can be registered.

When a property is sold, the sale price is compared to the guideline value. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Suresh Nagar, Krishna Street?

The current guideline value of Suresh Nagar, Krishna 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 to Rs 3,520 per sq.ft in 2024.

What are the stamp duty rates for property in Suresh Nagar, Krishna Street?

The stamp duty rate for property transactions in Suresh Nagar, Krishna Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Suresh Nagar?

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

How is the guideline value determined for properties in Porur?

The guideline value for properties in Porur is determined by the government and reflects the minimum value for property registration. It is based on various factors, including land classification and market conditions.