Guideline Value for Poombukar Nagar 3rd Street

Poombukar Nagar 3rd Street guideline value

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

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

The guideline value for Poombukar Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased by 200% to Rs 3,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,010 per sq.ft in 2017. The value then rose significantly by 49% to Rs 3,000 per sq.ft in 2023, and from there, it increased by 10% to the current rate of Rs 3,300 per sq.ft effective from 1 July 2024.

It is important to note that there are no figures available 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 value is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Poombukar Nagar 3rd Street.

• Poombukar Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 40th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 39th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 41st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 38th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 42nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 3rd 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Poombukar Nagar 3rd Street?

The Sub Registrar Office that covers Poombukar Nagar 3rd 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 stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Poombukar Nagar 3rd 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, marking an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

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, totaling Rs 2,97,000.

Which office handles property registration for Poombukar Nagar 3rd Street?

The Sembiam Sub Registrar Office handles property registration for Poombukar Nagar 3rd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Poombukar Nagar 3rd Street?

Poombukar Nagar 3rd Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.