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 Vanagaram 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

In the 2023 revision, the guideline value was Rs 4,000 per sq.ft. The latest revision in 2024 shows an increase of 10%, bringing the current value to Rs 4,400 per sq.ft. It is important to note that the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

With the increase from 2023 to 2024, the guideline value has risen significantly. The 2024 figure of Rs 4,400 per sq.ft is a notable change from the previous year, reflecting the latest adjustments in the guideline values.

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. The median guideline value for these streets is Rs 1,660 per sq.ft, and Porur Garden Phase-III's value is above this median.

• Porur Garden Phase - 2: Rs 3,300 per sq.ft (2024)
• Porur Garden Phase - 1: Rs 3,300 per sq.ft (2024)
• Porur Garden 7th Street: 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 4th Street: Rs 2,420 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 at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total 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.

For more information, you can use the stamp duty and registration fee calculator.

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 details.

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 a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. This value helps maintain transparency and standardization in 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 recently?

The guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% rise.

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

The land classification for Porur Garden Phase-III is Commercial Special Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Porur Garden Phase-III 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000.