Guideline Value for Porur Street

Porur Street guideline value

The current guideline value of Porur Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Porur Street has changed

The guideline value for Porur Street has seen several revisions over the years. In 2002, the value was Rs 391 per sq.ft, which increased to Rs 481 per sq.ft in 2003, marking a rise of 23%. The value continued to rise, reaching Rs 600 per sq.ft in 2007, a significant increase of 25%. By 2012, the value was Rs 2,000 per sq.ft, reflecting a substantial increase of 233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it increased to Rs 2,200 per sq.ft in 2024, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 463%. There are no revisions with figures missing for this street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Porur Street is below this median.

• Poornathilagam Cross Street: Rs 2,200 per sq.ft (2024)
• Poornathilagam 3rd Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam 2nd Street: Rs 3,300 per sq.ft (2024)
• Poornathilagam 1st Street: Rs 3,300 per sq.ft (2024)
• Pulikoradu Road: Rs 2,200 per sq.ft (2024)
• Pillaiyar Koil Street (Near Mudichur Road Ward-31): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Porur Street?

The Sub Registrar Office that covers Porur Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in property transactions in Tambaram. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Porur Street?

The current guideline value of Porur Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 391 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 463% over this period.

What is the land classification for Porur Street?

Porur Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000, based on the current guideline value of Rs 22,00,000.

Where is the Sub Registrar Office for Porur Street located?

The Sub Registrar Office for Porur Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.