Guideline Value for Poombukar Nagar 11th Cross Street

Poombukar Nagar 11th Cross Street guideline value

The current guideline value of Poombukar Nagar 11th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poombukar Nagar 11th Cross Street has changed

The guideline value for Poombukar Nagar 11th Cross Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and subsequently increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 230%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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 guideline value is Rs 3,300 per sq.ft, which is also the current rate for Poombukar Nagar 11th Cross Street.

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

Stamp duty and registration fee for property in Poombukar Nagar 11th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Poombukar Nagar 11th Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 11th Cross 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 plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 11th Cross Street?

The current guideline value of Poombukar Nagar 11th Cross 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Poombukar Nagar 11th Cross Street?

The land classification for Poombukar Nagar 11th Cross Street is Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at 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.

Which office handles registrations for Poombukar Nagar 11th Cross Street?

The Sembiam Sub Registrar Office handles registrations for Poombukar Nagar 11th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.