Guideline Value for Porur Street

Porur Street guideline value

The current guideline value of Porur Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Porur Street has changed

The guideline value for Porur Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 633%. However, from 2012 to 2017, the value decreased to Rs 2,211 per sq.ft, a decline of 33%. The value then rose sharply to Rs 3,300 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,500 per sq.ft, an increase of 6% from the previous year.

It is important to note that the register has no figures for Porur Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 678%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, placing Porur Street's 2024 value above this median.

• Poonga Street: Rs 1,600 per sq.ft (2024)
• Ponniamman Koil Street: Rs 1,800 per sq.ft (2024)
• Professor Colony: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Main Road: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Porur Street?

The Sub Registrar Office that covers Porur Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a buyer approaches the registration office, the guideline value will be assessed to ensure that the transaction complies with legal requirements. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Porur Street?

The current guideline value of Porur Street is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 678% over the years.

What are the stamp duty and registration fees for properties in Porur Street?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Which Sub Registrar Office covers Porur Street?

The Selaiyur Sub Registrar Office covers Porur Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Porur Street?

Porur Street is classified as Residential Special Type - IV, indicating its designation for residential purposes.