Guideline Value for Poombukar Nagar 14th Street

Poombukar Nagar 14th Street guideline value

The current guideline value of Poombukar Nagar 14th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 14th Street has changed

The guideline value for Poombukar Nagar 14th Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value adjusted to Rs 2,010 per sq.ft, which was a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it is set at Rs 3,300 per sq.ft as of 2024, reflecting a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 230%, showcasing significant fluctuations over the years.

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 current guideline value for Poombukar Nagar 14th Street.

• Poombukar Nagar 11th 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 Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 17th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 14th 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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Poombukar Nagar 14th Street?

The Sub Registrar Office that covers Poombukar Nagar 14th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration 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 state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 14th Street?

The current guideline value of Poombukar Nagar 14th 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What is the stamp duty for property in Poombukar Nagar 14th Street?

The stamp duty for property in Poombukar Nagar 14th Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, which is the same as the current guideline value for Poombukar Nagar 14th Street.