Guideline Value for Poombukar Nagar 12th Street

Poombukar Nagar 12th Street guideline value

The current guideline value of Poombukar Nagar 12th 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 12th Street has changed

Over the years, the guideline value for Poombukar Nagar 12th Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 shows an increase of 230% in the guideline value.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Poombukar Nagar 12th Street.

• Poombukar Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 15th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Nagar 12th Street?

The Sub Registrar Office that covers Poombukar Nagar 12th 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 in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty. This ensures that all transactions are conducted fairly and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 12th Street?

The current guideline value of Poombukar Nagar 12th 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 increased 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 this period.

What is the land classification for Poombukar Nagar 12th Street?

The land classification for Poombukar Nagar 12th Street is Residential Class I Type - I.

What is the stamp duty rate applicable in Kolathur?

The stamp duty rate applicable in Kolathur is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Poombukar Nagar 12th Street located?

The Sub Registrar Office for Poombukar Nagar 12th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.