Guideline Value for POKKISAM BOOMI NAGAR

Pokkisam Boomi Nagar guideline value

The current guideline value of Pokkisam Boomi Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Pokkisam Boomi Nagar has changed

Over the years, the guideline value of Pokkisam Boomi Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 335 per sq.ft. The 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft. The median value among these streets is Rs 550 per sq.ft, which is equal to the guideline value of Pokkisam Boomi Nagar.

• Pokkisam Boomi Nagar Phase - II: Rs 550 per sq.ft (2024)
• Pokkisam Nagar: Rs 1,640 per sq.ft (2024)
• Pokkisam Nagar Extention: Rs 1,000 per sq.ft (2024)
• Pokkisham Nagar Extension-II: Rs 1,100 per sq.ft (2024)
• Pothigai Avenue: Rs 550 per sq.ft (2024)
• Pothigai Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Pokkisam Boomi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pokkisam Boomi Nagar?

The Sub Registrar Office that covers Pokkisam Boomi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented at a fair value.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Pokkisam Boomi Nagar?

The current guideline value of Pokkisam Boomi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 550 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and an increase in 2023.

What is the land classification for Pokkisam Boomi Nagar?

The land classification for Pokkisam Boomi Nagar is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Pokkisam Boomi Nagar?

The Sub Registrar Office for Pokkisam Boomi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Pokkisam Boomi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 38,500.