Guideline Value for PORUR GARDEN PHASE-III

Porur Garden Phase-III guideline value

The current guideline value of Porur Garden Phase-III is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Chettiyaragaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Special Type - III.

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

Over the years, the guideline value for Porur Garden Phase-III has seen several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 4,000 per sq.ft, which was then increased by 10% to Rs 4,400 per sq.ft in the 2024 revision.

This increase reflects a notable change in the valuation of the property. The 2024 figure of Rs 4,400 per sq.ft is higher than the previous year's Rs 4,000 per sq.ft, indicating a shift in the guideline value for this street.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Porur Garden Phase-III above this median.

• Rajalakshmi Garden: Rs 1,650 per sq.ft (2024)
• School Street: Rs 1,650 per sq.ft (2024)
• Murthy Nagar Main Raod: Rs 2,200 per sq.ft (2024)
• Murthy Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Murthy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Murthy Nagar 1st Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Porur Garden Phase-III?

The Sub Registrar Office that covers Porur Garden Phase-III 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 Chettiyaragaram

The guideline value plays a crucial role in property transactions in Chettiyaragaram. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

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

The current guideline value of Porur Garden Phase-III is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Porur Garden Phase-III has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Chettiyaragaram?

The median guideline value for the streets in Chettiyaragaram is Rs 2,200 per sq.ft. Porur Garden Phase-III's guideline value is above this median.

What are the stamp duty and registration fees for property in Porur Garden Phase-III?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Porur Garden Phase-III?

The Chennai South Joint I Sub Registrar Office covers Porur Garden Phase-III, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.