Guideline Value for Poombukar Nagar 22th Street

Poombukar Nagar 22th Street guideline value

The current guideline value of Poombukar Nagar 22th 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 22th Street has changed

The guideline value for Poombukar Nagar 22th Street has undergone several revisions over the years. The earliest recorded revision was in 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 then decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. The value increased again to Rs 3,000 per sq.ft in 2023, and finally, it rose to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded 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 with a 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Poombukar Nagar 22th Street.

• Poombukar Nagar 21th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 23th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 25th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 22th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Nagar 22th Street?

The Sub Registrar Office that covers Poombukar Nagar 22th 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 is a critical factor when registering property transactions in Kolathur. It is used to determine the applicable stamp duty and registration fees, ensuring that both the buyer and seller comply with local regulations.

When a property is bought or sold, the guideline value helps in assessing the official value of the transaction, which is necessary for legal documentation and taxation purposes. This ensures transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 22th Street?

The current guideline value of Poombukar Nagar 22th 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, starting 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations for Kolathur, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Poombukar Nagar 22th Street?

Poombukar Nagar 22th Street is classified as Residential Class I Type - I, which indicates its designation for residential purposes.