Guideline Value for Poombukar Nagar 26th Street

Poombukar Nagar 26th Street guideline value

The current guideline value of Poombukar Nagar 26th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poombukar Nagar 26th Street has changed

Over the years, the guideline value for Poombukar Nagar 26th 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, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the guideline value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for this street for the years 2002 and 2003. 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 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value for Poombukar Nagar 26th Street.

• Poombukar Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 23th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 29th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 26th 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. Together, these fees would total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 26th Street?

The Sub Registrar Office that covers Poombukar Nagar 26th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

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, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 26th Street?

The current guideline value of Poombukar Nagar 26th 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 this period.

What is the land classification for Poombukar Nagar 26th Street?

Poombukar Nagar 26th 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 registrations for properties in the Kolathur area.

How is stamp duty calculated for properties in Poombukar Nagar 26th Street?

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