Guideline Value for Poombukar Nagar 13th Street

Poombukar Nagar 13th Street guideline value

The current guideline value of Poombukar Nagar 13th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 13th Street has changed

The guideline value for Poombukar Nagar 13th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

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, with a median value of Rs 3,300 per sq.ft. Poombukar Nagar 13th Street's 2024 figure is equal to this median.

• Poombukar Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 16th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 13th 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, bringing the total to Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Nagar 13th Street?

The Sub Registrar Office that covers Poombukar Nagar 13th 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 critical factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 13th Street?

The current guideline value of Poombukar Nagar 13th 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, marking an overall increase of 230% over the years.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations for Poombukar Nagar 13th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Poombukar Nagar 13th Street?

Poombukar Nagar 13th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.