Guideline Value for Portia

Portia guideline value

The current guideline value of Portia, located in Pazhanthandalam village under the Padappai SRO, is Rs 1,100 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Portia has changed

The guideline value for Portia has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,000 per sq.ft. This value remained the same until the next revision in 2017, where it decreased to Rs 670 per sq.ft. In 2023, the value increased significantly to Rs 1,000 per sq.ft, and in the latest revision for 2024, it rose again to Rs 1,100 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pazhanthandalam

Pazhanthandalam village has 57 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The guideline value for Portia matches the median value of Rs 1,100 per sq.ft for the area. Below are the guideline values for other streets in Pazhanthandalam:

• Pooja Avenue: Rs 1,970 per sq.ft (2024)
• Ragavendira Nagar: Rs 1,100 per sq.ft (2024)
• Raghavendra Nagar Extn I to V: Rs 770 per sq.ft (2024)
• Pazhanthandalam Main Road: Rs 1,100 per sq.ft (2024)
• Ramamurthy Nagar - I: Rs 1,200 per sq.ft (2024)
• Ramamurthy Nagar - II: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Portia

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is calculated at 7%, which totals Rs 77,000, and the registration fee is charged at 2%, amounting to Rs 22,000. Together, the total cost for stamp duty and registration fee would be Rs 99,000. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Portia?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pazhanthandalam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Portia?

The current guideline value of Portia is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Portia?

The land classification for Portia is Residential Special Type - I.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Portia located?

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