Guideline Value for PORUR GARDEN PHASE - 2

Porur Garden Phase - 2 guideline value

The current guideline value of Porur Garden Phase - 2 is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification is Commercial Class I Type - I.

How the guideline value of Porur Garden Phase - 2 has changed

The guideline value for Porur Garden Phase - 2 has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft. This decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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 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, positioning Porur Garden Phase - 2 above this median.

• Porur Garden Phase - 1: Rs 3,300 per sq.ft (2024)
• Porur Garden 7th Street: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase-III: Rs 4,400 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 4th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Garden Phase - 2

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Porur Garden Phase - 2?

The Sub Registrar Office covering Porur Garden Phase - 2 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 in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers and sellers must consider this value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Porur Garden Phase - 2?

The current guideline value of Porur Garden Phase - 2 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 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Porur Garden Phase - 2?

The land classification for Porur Garden Phase - 2 is Commercial Class I Type - I.

What are the stamp duty and registration fees for Porur Garden Phase - 2?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Porur Garden Phase - 2?

The Sub Registrar Office for Porur Garden Phase - 2 is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.