Guideline Value for PORUR GARDEN 4TH STREET

Porur Garden 4th Street guideline value

The current guideline value of Porur Garden 4th 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 4th Street has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure decreased to Rs 1,474 per sq.ft in 2017. Subsequently, the value increased significantly to Rs 2,200 per sq.ft in 2023, and then rose again to the current value of Rs 2,420 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry 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 4th Street is above this median.

• Porur Garden 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 5th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 3rd Street: Rs 2,420 per sq.ft (2024)
• Porur Garden 6th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Garden 4th Street

For a 1,000 sq.ft plot at the current rate, the 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 Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Porur Garden 4th Street?

The Sub Registrar Office that covers Porur Garden 4th 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 is a crucial factor when registering property transactions in Vanagaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers must consider this value to ensure compliance with registration requirements and avoid potential legal issues.

Frequently asked questions

What is the current guideline value of Porur Garden 4th Street?

The current guideline value of Porur Garden 4th 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 seen several changes: it was Rs 2,200 per sq.ft in 2012, decreased to Rs 1,474 per sq.ft in 2017, increased to Rs 2,200 per sq.ft in 2023, and is currently Rs 2,420 per sq.ft in 2024.

What is the land classification for Porur Garden 4th Street?

The land classification for Porur Garden 4th Street is Residential Special Type - II.

Where can I find the registration office for Porur Garden 4th Street?

The registration office for Porur Garden 4th 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 the stamp duty calculated for properties in Porur Garden 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,17,800.