Guideline Value for POTTERS STREET

Potters Street guideline value

The current guideline value of Potters Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Potters Street has changed

The guideline value for Potters Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The value then rose sharply to Rs 4,500 per sq.ft in 2023, before reaching the current value of Rs 4,900 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, and a further increase of 9% was recorded from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which means Potters Street's 2024 guideline value is below this median.

• Prasanna Vinayagar Koil Street: Rs 6,500 per sq.ft (2024)
• Poonamallee High Road Lane (A) E.V.R Periyar Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road (A) E.V.R Periyar High Road: Rs 18,100 per sq.ft (2024)
• Poonamallee High Road 2nd Lane: Rs 13,200 per sq.ft (2024)
• Poonamallee High Road 1st Lane: Rs 13,200 per sq.ft (2024)
• Pudhu Thandavarayan Mudali Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Potters Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please 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 precise calculations.

Which Sub Registrar Office covers Potters Street?

The Sub Registrar Office that covers Potters Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions. It serves as a benchmark for calculating the stamp duty and registration fees that are required to be paid to the government.

When buying or selling property in Purasaivakkam, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Potters Street?

The current guideline value of Potters Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 172%.

What is the land classification for Potters Street?

Potters Street is classified as Residential Class III Type - II, indicating its purpose for residential development.

Where can I find information about other streets in Purasaivakkam?

Information about other streets in Purasaivakkam can be found in the guideline value register, which lists various streets along with their respective guideline values.

What are the stamp duty and registration fees for property in Potters Street?

The stamp duty for a property valued at Rs 49,00,000 would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.