Guideline Value for Poombukar Nagar 35th Street

Poombukar Nagar 35th Street guideline value

The current guideline value of Poombukar Nagar 35th 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 35th Street has changed

Over the years, the guideline value of Poombukar Nagar 35th Street has seen several revisions. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, showing a 10% increase from 2023.

There are no figures available for the revisions in 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 is equal to the current value of Poombukar Nagar 35th Street.

• Poombukar Nagar 34th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 36th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 33th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 37th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 32th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 38th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 35th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the 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 35th Street?

The Sub Registrar Office that covers Poombukar Nagar 35th 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 is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 35th Street?

The current guideline value of Poombukar Nagar 35th 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 35th Street?

The land classification for Poombukar Nagar 35th Street is Residential Class I Type - I.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Poombukar Nagar 35th Street located?

The Sub Registrar Office for Poombukar Nagar 35th Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.