Guideline Value for Pokkisham Nagar

Pokkisham Nagar guideline value

The current guideline value of Pokkisham Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO, with a land classification of Residential Special Type - II.

How the guideline value of Pokkisham Nagar has changed

The guideline value for Pokkisham Nagar has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous revision.

From 2017 to 2023, the guideline value saw a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with the median being Rs 1,650 per sq.ft. The guideline value of Pokkisham Nagar aligns with this median.

• Preethi Avenue: Rs 1,650 per sq.ft (2024)
• Premier Garden Phase -I: Rs 2,420 per sq.ft (2024)
• Premier Garden Phase -II: Rs 2,420 per sq.ft (2024)
• Prithiv Avenue: Rs 1,980 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Pokkisham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pokkisham Nagar?

The Sub Registrar Office that covers Pokkisham Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Varadarajapuram. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay when registering a property. This ensures that the government receives appropriate revenue from property sales.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This means that understanding the guideline value is essential for both buyers and sellers to accurately estimate their costs during the transaction process.

Frequently asked questions

What is the current guideline value of Pokkisham Nagar?

The current guideline value of Pokkisham Nagar is Rs 1,650 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the stamp duty for property in Pokkisham Nagar?

The stamp duty for property in Pokkisham Nagar is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Where is the Sub Registrar Office for Pokkisham Nagar located?

The Sub Registrar Office for Pokkisham Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Pokkisham Nagar?

The land classification of Pokkisham Nagar is Residential Special Type - II, which is relevant for property transactions and planning purposes.