Guideline Value for Pothigai Nagar

Pothigai Nagar guideline value

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

How the guideline value of Pothigai Nagar has changed

The guideline value for Pothigai Nagar has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 500 per sq.ft in 2023, and finally rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%. The changes between the revisions include a 67% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Pothur

Pothur village has 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median value is Rs 550 per sq.ft, placing Pothigai Nagar's 2024 figure at this median level.

• Pothigai Avenue: Rs 550 per sq.ft (2024)
• Pothigai Nagar Extention: 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

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 at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 detailed calculations.

Which Sub Registrar Office covers Pothigai Nagar?

The Sub Registrar Office that covers Pothigai Nagar 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pothur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these fees are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall costs associated with property transactions. This helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Pothigai Nagar?

The current guideline value of Pothigai Nagar 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 are the stamp duty and registration fees for property in Pothigai Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which Sub Registrar Office is responsible for Pothigai Nagar?

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

What is the land classification of Pothigai Nagar?

Pothigai Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.