Guideline Value for Poombukar Nagar 38th Street

Poombukar Nagar 38th Street guideline value

The current guideline value for Poombukar Nagar 38th 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 38th Street has changed

The guideline value for Poombukar Nagar 38th Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. However, the value then dropped to Rs 2,010 per sq.ft in the 2017 revision, representing a decrease of 33%. The most recent revisions show a rise to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, 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 the same as the current figure for Poombukar Nagar 38th Street.

• Poombukar Nagar 37th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 39th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 36th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 35th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 38th 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 or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 38th Street?

The Sub Registrar Office that covers Poombukar Nagar 38th 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 when registering property in Kolathur. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is not undervalued during the transaction.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 38th Street?

The current guideline value of Poombukar Nagar 38th 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 38th Street?

The land classification for Poombukar Nagar 38th Street is 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 38th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 based on the current guideline value.