Guideline Value for Poombukar Nagar 4th Street

Poombukar Nagar 4th Street guideline value

The current guideline value of Poombukar Nagar 4th 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 4th Street has changed

The guideline value for Poombukar Nagar 4th Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2023, there was no change, with the value remaining at Rs 3,000 per sq.ft. The most recent revision in 2024 increased 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%. 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, with a median value of Rs 3,300 per sq.ft. Poombukar Nagar 4th Street's 2024 guideline value aligns with this median.

• Poombukar Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 43rd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 42nd Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 4th 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 higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 4th Street?

The Sub Registrar Office that covers Poombukar Nagar 4th 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 plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 4th Street?

The current guideline value of Poombukar Nagar 4th 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 is the registration office for Poombukar Nagar 4th Street?

The registration office for Poombukar Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

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

What is the land classification for Poombukar Nagar 4th Street?

Poombukar Nagar 4th Street is classified as Residential Class I Type - I, which indicates its designation for residential purposes within the Kolathur area.