Guideline Value for Poombukar Nagar 2nd Main Road

Poombukar Nagar 2nd Main Road guideline value

The current guideline value of Poombukar Nagar 2nd Main Road 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 Main Road has changed

The guideline value for Poombukar Nagar 2nd Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently, it stands at Rs 3,300 per sq.ft from the 2024 revision.

In terms of percentage changes, the guideline value increased by 200% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 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 guideline value for these streets is Rs 3,300 per sq.ft, which matches the current guideline value for Poombukar Nagar 2nd Main Road.

• Poombukar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 29th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 31th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 2nd Main Road

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 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 2nd Main Road?

The Sub Registrar Office covering Poombukar Nagar 2nd Main Road 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 crucial factor during the registration of properties in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during transactions.

When registering a property, the guideline value is assessed to calculate the necessary fees. This ensures that both parties are aware of the financial implications of the transaction, as the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 2nd Main Road?

The current guideline value of Poombukar Nagar 2nd Main Road 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 the years.

What is the land classification for Poombukar Nagar 2nd Main Road?

Poombukar Nagar 2nd Main Road is classified as Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Poombukar Nagar 2nd Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.