Guideline Value for PORUR GARDEN 7TH STREET

Porur Garden 7th Street guideline value

The current guideline value of Porur Garden 7th 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 7th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the subsequent 2023 revision, the value increased to Rs 3,000 per sq.ft, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Porur Garden 7th 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. The median value among these streets is Rs 1,660 per sq.ft, making the guideline value of Porur Garden 7th Street above this median.

• Porur Garden 6th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase - 1: Rs 3,300 per sq.ft (2024)
• Porur Garden 5th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase - 2: Rs 3,300 per sq.ft (2024)
• Porur Garden 4th 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 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Porur Garden 7th Street?

The Sub Registrar Office that covers Porur Garden 7th 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 in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with legal requirements.

When buying or selling property, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that both buyers and sellers are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Porur Garden 7th Street?

The current guideline value of Porur Garden 7th 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a significant increase of 49% over the years.

What is the land classification for Porur Garden 7th Street?

The land classification for Porur Garden 7th Street is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Porur Garden 7th Street?

The Sub Registrar Office for Porur Garden 7th Street is 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 7th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.