Guideline Value for PORUR GARDEN 3RD STREET

Porur Garden 3rd Street guideline value

The current guideline value of Porur Garden 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and is classified under Residential Special Type - II, governed by the Chennai South Joint I SRO.

How the guideline value of Porur Garden 3rd Street has changed

Starting from the 2012 revision, the guideline value for Porur Garden 3rd Street was Rs 2,200 per sq.ft. In 2017, it decreased to Rs 1,474 per sq.ft, representing a decline of 33%. The value then rose significantly to Rs 2,200 per sq.ft in 2023, and further increased to Rs 2,420 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft, where the median value stands at Rs 1,660 per sq.ft. The guideline value of Porur Garden 3rd Street is above this median.

• Porur Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 2nd Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 4th Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Garden 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value amounts to 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, totaling Rs 2,17,800. 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 accurate calculations.

Which Sub Registrar Office covers Porur Garden 3rd Street?

The Sub Registrar Office that covers Porur Garden 3rd 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

The guideline value plays a crucial role during property registration in Vanagaram. It is used to determine the stamp duty and registration fees, which are mandatory for any property transaction. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is reflective of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Porur Garden 3rd Street?

The current guideline value of Porur Garden 3rd 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 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification for Porur Garden 3rd Street?

Porur Garden 3rd Street is classified under Residential Special Type - II.

Where can I find the Sub Registrar Office for Porur Garden 3rd Street?

The Sub Registrar Office for Porur Garden 3rd 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.

How is stamp duty calculated for property transactions?

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