Guideline Value for POOMBUKAR STREET (VETTUVANKENI)

Poombukar Street (Vettuvankeni) guideline value

The current guideline value of Poombukar Street (Vettuvankeni) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Poombukar Street (Vettuvankeni) has changed

The guideline value for Poombukar Street (Vettuvankeni) has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 152 per sq.ft. This value increased significantly to Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2003 to 2007, the increase was +229%, followed by a remarkable +300% from 2007 to 2012. The value then saw a decrease of -33% from 2012 to 2017. After that, it increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +1347%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Poombukar Street (Vettuvankeni).

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

Stamp duty and registration fee for property in Poombukar Street (Vettuvankeni)

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Street (Vettuvankeni)?

The Sub Registrar Office that covers Poombukar Street (Vettuvankeni) 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 transactions in Enjambakkam. It determines the minimum value at which a property can be sold, ensuring that the transaction is recorded accurately for tax purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware that these costs can significantly affect the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Street (Vettuvankeni)?

The current guideline value of Poombukar Street (Vettuvankeni) 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 various increases and decreases in between. Notable changes include a +300% increase from 2007 to 2012 and a +10% increase from 2023 to 2024.

What is the median guideline value in Enjambakkam?

The median guideline value in Enjambakkam is Rs 2,200 per sq.ft, which is the same as the current value for Poombukar Street (Vettuvankeni).

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Poombukar Street (Vettuvankeni)?

The Neelankarai Sub Registrar Office covers Poombukar Street (Vettuvankeni) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.