Guideline Value for Poombukar Nagar 3rd Cross Street

Poombukar Nagar 3rd Cross Street guideline value

The current guideline value of Poombukar Nagar 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 3rd Cross Street has changed

The guideline value for Poombukar Nagar 3rd Cross Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, marking a 10% change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%. Notably, the jump from 2007 to 2012 was a substantial 200%. Overall, from 2007 to 2024, the guideline value has risen by 230%. The register has no figures for the years 2002 and 2003 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 value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Poombukar Nagar 3rd Cross Street.

• Poombukar Nagar 39th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 38th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 40th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 37th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 41st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 3rd Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more assistance.

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

The guideline value is a critical factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price according to government standards.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 3rd Cross Street?

The current guideline value of Poombukar Nagar 3rd Cross 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 this period.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur that share the same guideline value of Rs 3,300 per sq.ft include Poombukar Nagar 39th Street, 3rd Street, 38th Street, 40th Street, 37th Street, and 41st Street.

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 3rd Cross Street?

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