Guideline Value for Poombukar Nagar 34th Street

Poombukar Nagar 34th Street guideline value

The current guideline value of Poombukar Nagar 34th 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 34th Street has changed

Over the years, the guideline value of Poombukar Nagar 34th Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased dramatically to Rs 3,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that the register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased 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 for these streets is Rs 3,300 per sq.ft, which aligns with the current value for Poombukar Nagar 34th Street.

• Poombukar Nagar 33th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 35th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 32th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 36th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 31th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 37th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 34th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs 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.

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

Which Sub Registrar Office covers Poombukar Nagar 34th Street?

The Sub Registrar Office that covers Poombukar Nagar 34th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in the transaction process.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 34th Street?

The current guideline value of Poombukar Nagar 34th 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 these years.

What is the land classification for Poombukar Nagar 34th Street?

Poombukar Nagar 34th 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 stamp duty calculated for properties in Poombukar Nagar 34th Street?

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