Guideline Value for Poombukar Nagar 2nd Cross Street

Poombukar Nagar 2nd Cross Street guideline value

The current guideline value of Poombukar Nagar 2nd Cross 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 2nd Cross Street has changed

Over the years, the guideline value for Poombukar Nagar 2nd Cross 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 rise of 200%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision brought the value 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, which is a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, resulting in an overall increase of 230%. The register does not contain 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 guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Poombukar Nagar 2nd Cross Street.

• Poombukar Nagar 29th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 30th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 2nd Cross 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, while 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 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 2nd Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 2nd Cross 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 plays a crucial role in the registration of property transactions in Kolathur. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the purchase or sale of a property.

When a property is bought or sold, the guideline value is often used to determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 2nd Cross Street?

The current guideline value of Poombukar Nagar 2nd Cross 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, with significant revisions occurring in 2012, 2017, 2023, and the most recent in 2024.

What is the registration office for this street?

The registration office for Poombukar Nagar 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.

What is the land classification for Poombukar Nagar 2nd Cross Street?

The land classification for Poombukar Nagar 2nd Cross Street is Residential Class I Type - I, indicating its designation for residential purposes.