Guideline Value for Poombukar Nagar 1st Main Road

Poombukar Nagar 1st Main Road guideline value

The current guideline value of Poombukar Nagar 1st Main Road is Rs 4,900 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 Mixed Type - I.

How the guideline value of Poombukar Nagar 1st Main Road has changed

The guideline value for Poombukar Nagar 1st Main Road has undergone several revisions over the years. The earliest recorded value was Rs 1,000 per sq.ft in 2007, which saw a significant increase to Rs 4,500 per sq.ft in 2012, marking a rise of 350%. The latest revision in 2024 set the value at Rs 4,900 per sq.ft, reflecting a 9% increase from the 2012 figure.

It is important to note that there are no recorded figures for this street in the years 2023, 2017, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 390%.

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 value for these streets is Rs 3,300 per sq.ft, placing Poombukar Nagar 1st Main Road above this median.

• Poombukar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 19th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 21th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 1st Main Road?

The Sub Registrar Office that covers Poombukar Nagar 1st Main Road 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 crucial during property transactions in Kolathur as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay during the transaction.

When purchasing a property, it is essential to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of the transaction. The guideline value serves as a benchmark for both buyers and sellers in the registration process.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 1st Main Road?

The current guideline value of Poombukar Nagar 1st Main Road is Rs 4,900 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 4,500 per sq.ft in 2012, and then to Rs 4,900 per sq.ft in 2024. There are no recorded figures for the years 2023, 2017, 2003, and 2002.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Poombukar Nagar 1st Main Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Poombukar Nagar 1st Main Road?

The land classification for Poombukar Nagar 1st Main Road is Mixed Type - I, indicating a blend of residential and commercial properties in the area.