Guideline Value for Poombukar Nagar 15th Street

Poombukar Nagar 15th Street guideline value

The current guideline value of Poombukar Nagar 15th 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, classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 15th Street has changed

The guideline value for Poombukar Nagar 15th 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 then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% decline. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 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 that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Poombukar Nagar 15th Street.

• Poombukar Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 17th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 18th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 15th 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, bringing the total charges to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Nagar 15th Street?

The Sub Registrar Office that covers Poombukar Nagar 15th 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 appropriate revenue through stamp duty and registration fees.

When buying or selling 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 guideline value or the sale price, whichever is higher, thus affecting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 15th Street?

The current guideline value of Poombukar Nagar 15th 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, showing an overall increase of 230% over the years.

What is the registration office for Poombukar Nagar 15th Street?

The registration office for Poombukar Nagar 15th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Poombukar Nagar 15th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property valued at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.

What are the guideline values for other streets in Kolathur?

Other streets in Kolathur under the Sembiam SRO have a 2024 guideline value of Rs 3,300 per sq.ft, including Poombukar Nagar 14th, 16th, 13th, 17th, 12th, and 18th Streets.