Guideline Value for Poombukar Nagar 1st Street

Poombukar Nagar 1st Street guideline value

The current guideline value of Poombukar Nagar 1st 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 1st Street has changed

The guideline value for Poombukar Nagar 1st Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This 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, reflecting a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

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 value for these streets is Rs 3,300 per sq.ft, which is the same as the current guideline value for Poombukar Nagar 1st Street.

• Poombukar Nagar 1st Main Road: Rs 4,900 per sq.ft (2024)
• Poombukar Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 21th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 19th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 22th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 1st 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 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Poombukar Nagar 1st Street?

The Sub Registrar Office that covers Poombukar Nagar 1st 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 property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are recorded accurately.

During registration, buyers must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Poombukar Nagar 1st 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, reflecting an overall increase of 230% over the years.

What is the land classification for Poombukar Nagar 1st Street?

Poombukar Nagar 1st Street is classified as Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Poombukar Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.