Guideline Value for Porcheliyan Street

Porcheliyan Street guideline value

The current guideline value of Porcheliyan Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Porcheliyan Street has changed

The guideline value for Porcheliyan Street has undergone several revisions over the years. Starting from the earliest revision in 2002, the guideline value was Rs 172 per sq.ft. This increased to Rs 193 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a 418% jump. Following this, the value changed to Rs 2,500 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and finally reached the current value of Rs 2,800 per sq.ft in 2024, showing a 12% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in this summary. Overall, from 2002 to 2024, the guideline value has increased by 1,528%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value of Porcheliyan Street.

• Ponnusamy Street: Rs 2,800 per sq.ft (2024)
• Ponnappan Street: Rs 2,800 per sq.ft (2024)
• Puzhuthivakkam Main Road: Rs 3,900 per sq.ft (2024)
• Radha Nagar - All streets: Rs 2,800 per sq.ft (2024)
• Perumal Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Perumal Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Porcheliyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Therefore, the total fees together would be Rs 2,52,000. 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 Porcheliyan Street?

The Sub Registrar Office that covers Porcheliyan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ullagaram

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and transparently, reflecting the true value of the property as determined by the government.

Frequently asked questions

What is the current guideline value of Porcheliyan Street?

The current guideline value of Porcheliyan Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,528% over the years.

What is the land classification for Porcheliyan Street?

Porcheliyan Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Porcheliyan Street?

The Sub Registrar Office for Porcheliyan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated for properties in Ullagaram?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000, including stamp duty and registration fees.