Guideline Value for Poombukar Nagar 32th Street

Poombukar Nagar 32th Street guideline value

The current guideline value for Poombukar Nagar 32th 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 32th Street has changed

The guideline value for Poombukar Nagar 32th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, when the guideline value was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The 2023 revision maintained the value at Rs 3,000 per sq.ft, but the most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, reflecting a 10% change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 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 32th Street.

• Poombukar Nagar 31th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 33th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 34th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 35th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 32th 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, charged 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.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Poombukar Nagar 32th Street?

The Sub Registrar Office that covers Poombukar Nagar 32th 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 process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, 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 significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 32th Street?

The current guideline value of Poombukar Nagar 32th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230%.

What is the classification of land in Poombukar Nagar 32th Street?

Poombukar Nagar 32th Street is classified as Residential Class I Type - I under the Sembiam SRO.

Where can I find the Sub Registrar Office for Poombukar Nagar 32th Street?

The Sub Registrar Office for Poombukar Nagar 32th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 and the registration fee would be Rs 66,000.