Guideline Value for GST ROAD POTHERI (WARD-20)

Gst Road Potheri (Ward-20) guideline value

The current guideline value of Gst Road Potheri (Ward-20) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO, with a land classification of Residential Special Type - I.

How the guideline value of Gst Road Potheri (Ward-20) has changed

Over the years, the guideline value for Gst Road Potheri has seen several revisions. The earliest available figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a drop of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 2,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

In Potheri village, there are 129 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,970 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Gst Road Potheri is above this median.

• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)
• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)
• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gst Road Potheri (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gst Road Potheri (Ward-20)?

The Gst Road Potheri (Ward-20) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Potheri

The guideline value plays a crucial role during property transactions in Potheri. It is the benchmark used to calculate the stamp duty and registration fees at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the sale price or the guideline value is used to determine the applicable duties, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gst Road Potheri?

The current guideline value of Gst Road Potheri (Ward-20) 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Which office handles registrations for Gst Road Potheri?

The registrations for Gst Road Potheri (Ward-20) are handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Gst Road Potheri?

The land classification for Gst Road Potheri (Ward-20) is Residential Special Type - I, indicating its suitability for residential development.