Guideline Value for PORUR GARDEN 1ST CROSS STREET

Porur Garden 1st Cross Street guideline value

The current guideline value of Porur Garden 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Porur Garden 1st Cross Street has changed

Over the years, the guideline value for Porur Garden 1st Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This marked a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value for Porur Garden 1st Cross Street is above this median.

• Porur Garden 1st Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 3rd Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Garden 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Porur Garden 1st Cross Street?

The Sub Registrar Office that covers Porur Garden 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Vanagaram

The guideline value plays a crucial role when buying or selling property in Vanagaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can change periodically based on revisions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Porur Garden 1st Cross Street?

The current guideline value of Porur Garden 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the land classification for Porur Garden 1st Cross Street?

The land classification for Porur Garden 1st Cross Street is Commercial Class I Type - I, indicating its commercial usage.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Porur Garden 1st Cross Street?

The Sub Registrar Office for Porur Garden 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.