Guideline Value for Poombukar Nagar 28th Street

Poombukar Nagar 28th Street guideline value

The current guideline value of Poombukar Nagar 28th 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 28th Street has changed

The guideline value for Poombukar Nagar 28th Street has seen several revisions over the years. The earliest recorded figure is from the 2007 revision at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decline to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, which then rose to Rs 3,300 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 10%. Notably, the value saw a remarkable increase of 200% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has risen 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 the median value being Rs 3,300 per sq.ft. Poombukar Nagar 28th Street's 2024 guideline value aligns with this median.

• Poombukar Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 29th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 26th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 28th 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, bringing the total 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.

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

Which Sub Registrar Office covers Poombukar Nagar 28th Street?

The Sub Registrar Office covering Poombukar Nagar 28th 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 is a critical factor in 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 documented at a fair price.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value for Poombukar Nagar 28th Street?

The current guideline value for Poombukar Nagar 28th 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% from 2007 to 2024.

What is the land classification for Poombukar Nagar 28th Street?

The land classification for Poombukar Nagar 28th Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Poombukar Nagar 28th Street?

The Sub Registrar Office for Poombukar Nagar 28th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property transactions?

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