Guideline Value for Pothigai Nagar Extention

Pothigai Nagar Extention guideline value

The current guideline value of Pothigai Nagar Extention, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Pothigai Nagar Extention has changed

The guideline value for Pothigai Nagar Extention has seen several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. From 2017 to 2023, the value rose significantly by 49% to reach Rs 500 per sq.ft, and as of the 2024 revision, it has increased further to Rs 550 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Pothur

In Pothur village, there are a total of 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Pothigai Nagar Extention.

• Pothigai Nagar: Rs 550 per sq.ft (2024)
• Pothigai Avenue: Rs 550 per sq.ft (2024)
• Priya Nagar: Rs 550 per sq.ft (2024)
• Pokkisham Nagar Extension-II: Rs 1,100 per sq.ft (2024)
• Pokkisam Nagar Extention: Rs 1,000 per sq.ft (2024)
• Pokkisam Nagar: Rs 1,640 per sq.ft (2024)

Stamp duty and registration fee for property in Pothigai Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, these fees total Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pothigai Nagar Extention?

The Sub Registrar Office covering Pothigai Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Pothur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. The fees are calculated based on this guideline value, ensuring that all property transactions are conducted transparently and fairly.

When registering a property, the buyer must ensure that the sale price is either equal to or greater than the guideline value, as the stamp duty is charged on the higher of the two. This process helps in maintaining a standard valuation for properties across the region.

Frequently asked questions

What is the current guideline value of Pothigai Nagar Extention?

The current guideline value of Pothigai Nagar Extention is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the stamp duty for property in Pothigai Nagar Extention?

The stamp duty for property in Pothigai Nagar Extention is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.

Where can I find the Sub Registrar Office for Pothigai Nagar Extention?

The Sub Registrar Office for Pothigai Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Pothigai Nagar Extention?

Pothigai Nagar Extention falls under the Residential Class I Type - I land classification. This classification is important for determining the types of properties that can be developed in the area.