Guideline Value for Poombukar Nagar 20th Street

Poombukar Nagar 20th Street guideline value

The current guideline value of Poombukar Nagar 20th 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 20th Street has changed

Over the years, the guideline value of Poombukar Nagar 20th Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The subsequent revisions saw the value rise to Rs 3,000 per sq.ft in 2023 and then to Rs 3,300 per sq.ft in 2024, reflecting an increase of 10% from the previous year and a substantial 49% from 2017.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, 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. The guideline value of Poombukar Nagar 20th Street matches this median.

• Poombukar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 21th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 1st Main Road: Rs 4,900 per sq.ft (2024)
• Poombukar Nagar 22th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 23th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 20th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 20th Street?

The Sub Registrar Office that covers Poombukar Nagar 20th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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 transaction is in line with government regulations.

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 higher of the guideline value or the sale price, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 20th Street?

The current guideline value of Poombukar Nagar 20th 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 a total increase of 230% over the years.

What is the land classification for Poombukar Nagar 20th Street?

Poombukar Nagar 20th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 3,300 per sq.ft, the total cost for these fees would be Rs 2,97,000.