Guideline Value for POTHIGAI AVENUE

Pothigai Avenue guideline value

The current guideline value of Pothigai Avenue in Pothur village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Pothigai Avenue has changed

The guideline value for Pothigai Avenue has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is the same as the 2024 guideline value for Pothigai Avenue. Below are some other streets in Pothur with their respective guideline values:

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

Stamp duty and registration fee for property in Pothigai Avenue

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pothigai Avenue?

The Sub Registrar Office that covers Pothigai Avenue 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 more information.

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

The guideline value plays a crucial role in property transactions in Pothur. It is used as a benchmark for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for fee calculations.

When purchasing property, it is essential to understand that the guideline value is determined by the government and is subject to periodic revisions. This ensures that the values remain relevant to the current market conditions, reflecting changes in the area.

Frequently asked questions

What is the current guideline value of Pothigai Avenue?

The current guideline value of Pothigai Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the stamp duty rate for property in Pothigai Avenue?

The stamp duty for property in Pothigai Avenue is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Pothigai Avenue?

The Sub Registrar Office for Pothigai Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values for other streets in Pothur?

In Pothur, the guideline values for other streets vary, with rates ranging from Rs 330 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, which is the same as the guideline value for Pothigai Avenue.