Guideline Value for POOMBUKAR 2nd STREET

POOMBUKAR 2nd STREET guideline value

The current guideline value of POOMBUKAR 2nd STREET is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of POOMBUKAR 2nd STREET has changed

The guideline value for POOMBUKAR 2nd STREET has seen significant changes over the years. In 2003, the value was Rs 152 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then surged to Rs 2,000 per sq.ft in 2012, followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,200 per sq.ft.

Notably, the changes between revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 300% increase from 2007 to 2012, and a 229% increase from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 1347%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of POOMBUKAR 2nd STREET.

• POOMBUKAR 1st STREET: Rs 2,200 per sq.ft (2024)
• POOMBUKAR 3rd STREET: Rs 2,200 per sq.ft (2024)
• POOMBUKAR 4th STREET: Rs 2,200 per sq.ft (2024)
• Pon Vidya School Road: Rs 2,800 per sq.ft (2024)
• Poombukar Nagar (Vettuvankeni): Rs 2,200 per sq.ft (2024)
• Poombukar Street (Vettuvankeni): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in POOMBUKAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers POOMBUKAR 2nd STREET?

The Sub Registrar Office that covers POOMBUKAR 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Enjambakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that transactions reflect the market standards set by the registration department.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of POOMBUKAR 2nd STREET?

The current guideline value of POOMBUKAR 2nd STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 152 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including a notable increase of 1347% overall since 2003.

What is the land classification of POOMBUKAR 2nd STREET?

POOMBUKAR 2nd STREET is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located for POOMBUKAR 2nd STREET?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in POOMBUKAR 2nd STREET?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.