Guideline Value for Poombukar Nagar 42nd Street

Poombukar Nagar 42nd Street guideline value

The current guideline value for Poombukar Nagar 42nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. 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 42nd Street has changed

In the 2007 revision, the guideline 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. The value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Poombukar Nagar 42nd Street.

• Poombukar Nagar 41st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 43rd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 40th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 42nd 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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Poombukar Nagar 42nd Street?

The Sub Registrar Office that covers Poombukar Nagar 42nd 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 figure used during the registration of property transactions in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives a fair revenue based on the property's value.

When buying or selling property, the guideline value helps to standardize the pricing for transactions, providing transparency and reducing disputes. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value for Poombukar Nagar 42nd Street?

The current guideline value for Poombukar Nagar 42nd 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 seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is a total increase of 230% over the years.

What is the stamp duty for property in Poombukar Nagar 42nd Street?

The stamp duty for property in Poombukar Nagar 42nd Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,31,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in Poombukar Nagar 42nd Street.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the pricing is standardized and helps in maintaining transparency in the registration process.