Guideline Value for Poombukar Nagar 23th Street

Poombukar Nagar 23th Street guideline value

The current guideline value for Poombukar Nagar 23th 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Poombukar Nagar 23th Street has changed

The guideline value for Poombukar Nagar 23th Street has undergone several revisions over the years. The earliest available figure is from 2007, which was Rs 1,000 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, followed by another increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, the guideline values vary across 879 streets under the Sembiam SRO, with figures ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Poombukar Nagar 23th Street.

• Poombukar Nagar 22th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 21th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 26th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 23th 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, while the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Poombukar Nagar 23th Street?

The Sub Registrar Office that covers Poombukar Nagar 23th 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 crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 23th Street?

The current guideline value of Poombukar Nagar 23th 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 are the other streets with the same guideline value?

Other streets in Kolathur that share the same guideline value of Rs 3,300 per sq.ft include Poombukar Nagar 22th Street, Poombukar Nagar 24th Street, Poombukar Nagar 21th Street, Poombukar Nagar 25th Street, Poombukar Nagar 20th Street, and Poombukar Nagar 26th Street.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information about your SRO through the provided link.