Guideline Value for Poombukar Nagar 10th Street

Poombukar Nagar 10th Street guideline value

The current guideline value of Poombukar Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poombukar Nagar 10th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a 33% drop. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, a 49% increase from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from the 2007 to the 2024 revision, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Poombukar Nagar 10th Street.

• Poombukar Nagar 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Annex: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 13th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Nagar 10th Street?

The Sub Registrar Office that covers Poombukar Nagar 10th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps establish the minimum value for tax purposes. This value ensures that the government collects appropriate taxes on property transactions, reflecting the current market conditions as recorded in the guideline value register.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 10th Street?

The current guideline value of Poombukar Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% from the 2007 figure.

What is the registration office for Poombukar Nagar 10th Street?

The registration office for Poombukar Nagar 10th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur under the Sembiam SRO with the same guideline value of Rs 3,300 per sq.ft include Poombukar Nagar 10th Cross Street, Poombukar Nagar 11th Cross Street, Poombukar Nagar 11th Street, Poombukar Annex, Poombukar Nagar 12th Street, and Poombukar Nagar 13th Street.