Guideline Value for Poombukar Nagar 25th Street

Poombukar Nagar 25th Street guideline value

The current guideline value of Poombukar Nagar 25th 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 SRO, classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 25th Street has changed

Over the years, the guideline value of Poombukar Nagar 25th Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The next revision in 2023 raised the value to Rs 3,000 per sq.ft, followed by the current rate of Rs 3,300 per sq.ft from the 2024 revision, indicating a 10% increase.

In summary, the guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230%. The register has no figures for the years 2002 and 2003 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 is Rs 3,300 per sq.ft, which is the same as the guideline value for Poombukar Nagar 25th Street.

• Poombukar Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 26th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 23th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 22th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 28th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 25th 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, bringing the total cost for these fees to 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 the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Poombukar Nagar 25th Street?

The Poombukar Nagar 25th Street falls under 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 sold, the buyer is required to pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 25th Street?

The current guideline value of Poombukar Nagar 25th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, with various revisions in between.

What is the registration office for Poombukar Nagar 25th Street?

The registration office covering Poombukar Nagar 25th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be calculated on that amount unless the sale price is higher.

What are the other streets in Kolathur 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 24th Street, 26th Street, 23th Street, 27th Street, 22th Street, and 28th Street.