Guideline Value for Poombukar Nagar 31th Street

Poombukar Nagar 31th Street guideline value

The current guideline value of Poombukar Nagar 31th 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 31th Street has changed

The guideline value for Poombukar Nagar 31th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, with a value of Rs 1,000 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, reaching Rs 3,000 per sq.ft in 2023, and further rising to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it 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. The median guideline value in this area is Rs 3,300 per sq.ft, which is equal to the current value of Poombukar Nagar 31th Street.

• Poombukar Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 32th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 33th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 34th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 31th 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Poombukar Nagar 31th Street?

The Sub Registrar Office that covers Poombukar Nagar 31th 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 plays a crucial role during the registration of property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 31th Street?

The current guideline value of Poombukar Nagar 31th 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 the years.

What is the land classification for Poombukar Nagar 31th Street?

Poombukar Nagar 31th Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is the 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, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.