Guideline Value for POTHIGAI STREET

Pothigai Street guideline value

The current guideline value of Pothigai Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Pothigai Street has changed

The guideline value for Pothigai Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure dropped to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for Pothigai Street. Overall, comparing the 2012 and 2024 revisions, there has been a 13% increase in the guideline value.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Pothigai Street's 2024 value below this median.

• Prabala Nagar: Rs 2,200 per sq.ft (2024)
• Poornima Garden: Rs 3,300 per sq.ft (2024)
• Prarthana Avenue: Rs 1,675 per sq.ft (2024)
• Prarthana Salai Cross Street: Rs 1,675 per sq.ft (2024)
• Prarthana Salai Main Road: Rs 2,800 per sq.ft (2024)
• Poombukar Street (Vettuvankeni): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Pothigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Pothigai Street?

The Sub Registrar Office that covers Pothigai Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Enjambakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in the property transaction. Ensuring that the guideline value is accurately reflected in all documentation helps to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Pothigai Street?

The current guideline value of Pothigai Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Pothigai Street?

Pothigai Street is classified as Residential Class IV Type - I.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties on Pothigai Street?

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 1,19,000.