Guideline Value for PORUR GARDEN PHASE - 1

Porur Garden Phase - 1 guideline value

The current guideline value of Porur Garden Phase - 1 is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Vanagaram village under the Chennai South Joint I SRO, classified as Commercial Class I Type - I.

How the guideline value of Porur Garden Phase - 1 has changed

The guideline value for Porur Garden Phase - 1 has seen several revisions over the years. 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. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. 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%, but from 2017 to 2023, there was a significant increase of 49%. 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, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Porur Garden Phase - 1's 2024 figure above this median.

• Porur Garden 7th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase - 2: Rs 3,300 per sq.ft (2024)
• Porur Garden 6th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden 5th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase-III: Rs 4,400 per sq.ft (2024)
• Porur Garden 4th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Garden Phase - 1

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, making the total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Porur Garden Phase - 1?

Porur Garden Phase - 1 falls under 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 when buying or selling property in Vanagaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This prevents undervaluation and ensures transparency in property dealings.

Frequently asked questions

What is the current guideline value of Porur Garden Phase - 1?

The current guideline value of Porur Garden Phase - 1 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, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Porur Garden Phase - 1?

Porur Garden Phase - 1 is classified as Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Porur Garden Phase - 1?

The Sub Registrar Office for Porur Garden Phase - 1 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 Phase - 1?

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