Guideline Value for New Portia

New Portia guideline value

The current guideline value of New Portia, located in Pazhanthandalam village under the Padappai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of New Portia has changed

The guideline value for New Portia has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. The 2023 revision increased it back to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it to Rs 1,100 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decrease of 33%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register has no figure for this street for the years 2002, 2003, and 2007.

Guideline values in Pazhanthandalam

Pazhanthandalam village has 57 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is the same as the current guideline value for New Portia.

• Nivedhidha Nagar: Rs 1,100 per sq.ft (2024)
• Nivethitha Nagar Extension: Rs 1,100 per sq.ft (2024)
• Nethaji Nagar: Rs 1,100 per sq.ft (2024)
• Orr Diamond Avenue: Rs 1,760 per sq.ft (2024)
• Nadesanar Street: Rs 1,100 per sq.ft (2024)
• Pazhanthandalam Main Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in New Portia

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers New Portia?

The Sub Registrar Office that covers New Portia is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pazhanthandalam. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process.

When registering a property, the guideline value is assessed to ensure that the appropriate taxes are collected. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of New Portia?

The current guideline value of New Portia is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for New Portia?

New Portia is classified as Residential Special Type - I under the land classification guidelines.

What are the stamp duty and registration fees for properties in New Portia?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for New Portia located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.