Guideline Value for Poombukar Nagar 43rd Street

Poombukar Nagar 43rd Street guideline value

The current guideline value of Poombukar Nagar 43rd 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 43rd Street has changed

Looking at the revisions, the guideline value for Poombukar Nagar 43rd Street has seen significant changes over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which then increased to Rs 3,000 per sq.ft in 2012. This remained unchanged until the 2023 revision, which also listed it at Rs 3,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register 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 equal to the 2024 figure for Poombukar Nagar 43rd Street.

• Poombukar Nagar 42nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 41st Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 40th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 43rd 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.

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

Which Sub Registrar Office covers Poombukar Nagar 43rd Street?

The Sub Registrar Office that covers Poombukar Nagar 43rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 43rd Street?

The current guideline value of Poombukar Nagar 43rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking a total increase of 230% over the years.

What is the land classification for Poombukar Nagar 43rd Street?

Poombukar Nagar 43rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sembiam Sub Registrar Office, which covers Poombukar Nagar 43rd Street, is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty 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 a rate of 7%.