Guideline Value for POTHIYAMMAN KOIL STREET

Pothiyamman Koil Street guideline value

The current guideline value of Pothiyamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Pothiyamman Koil Street has changed

The guideline value for Pothiyamman Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 433%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that Pothiyamman Koil Street's 2024 figure is below the median.

• Pudu Street (Kallikuppam): Rs 2,100 per sq.ft (2024)
• Pudu Street (Thathankuppam): Rs 1,600 per sq.ft (2024)
• P.M.A Avenue: Rs 1,600 per sq.ft (2024)
• Pillaiyar Koil Street (Kanchinakuppam): Rs 1,600 per sq.ft (2024)
• Ragavendera Nagar (Vivekananda Nagar): Rs 2,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pothiyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Pothiyamman Koil Street?

Pothiyamman Koil Street is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value will be compared to the sale price, and the higher amount will be used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the officially recognized values set by the government.

Frequently asked questions

What is the current guideline value of Pothiyamman Koil Street?

The current guideline value of Pothiyamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 1,600 per sq.ft in 2024, representing an overall increase of 433%.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Pudu Street (Kallikuppam) at Rs 2,100 per sq.ft, Pudu Street (Thathankuppam) at Rs 1,600 per sq.ft, and P.M.A Avenue at Rs 1,600 per sq.ft, among others.

What is the registration fee for properties in Pothiyamman Koil Street?

The registration fee for properties in Pothiyamman Koil Street is calculated based on the guideline value. For example, a property valued at Rs 16,00,000 would incur a registration fee of Rs 32,000 at a rate of 2%.

Which office handles property registrations in Korattur?

The Villivakkam Sub Registrar Office handles property registrations in Korattur. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.