Guideline Value for PORUR GARDEN 2ND STREET

Porur Garden 2nd Street guideline value

The current guideline value of Porur Garden 2nd Street is Rs 2,420 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 Residential Special Type - II.

How the guideline value of Porur Garden 2nd Street has changed

The guideline value for Porur Garden 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,474 per sq.ft. The value remained at Rs 2,200 per sq.ft until the 2023 revision, which increased it to Rs 2,200 per sq.ft. The most recent revision in 2024 raised the guideline value by 10% to Rs 2,420 per sq.ft.

Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street.

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. The median value for these streets is Rs 1,660 per sq.ft, making the 2024 guideline value for Porur Garden 2nd Street above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total charges together Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Porur Garden 2nd Street?

The Sub Registrar Office that covers Porur Garden 2nd 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 information.

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

When buying or selling property in Vanagaram, the guideline value is a crucial factor as it determines the stamp duty and registration fees applicable during the transaction. The guideline value serves as a benchmark for property transactions and is used by the registration authorities to assess the value of the property being registered.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs involved in the property transaction. Understanding the guideline value can help in making informed decisions when engaging in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Porur Garden 2nd Street?

The current guideline value of Porur Garden 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,420 per sq.ft in 2024, a 10% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, with various changes in between.

What is the land classification for Porur Garden 2nd Street?

The land classification for Porur Garden 2nd Street is Residential Special Type - II.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Porur Garden 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at the rate of 7%.