Guideline Value for Poombukar Nagar 5th Cross Street

Poombukar Nagar 5th Cross Street guideline value

The current guideline value of Poombukar Nagar 5th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 5th Cross Street has changed

The guideline value for Poombukar Nagar 5th Cross Street has experienced several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, maintaining the same value until the next revision in 2023, which also remained at Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The register does not have figures 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 range from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Poombukar Nagar 5th Cross Street.

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

Stamp duty and registration fee for property in Poombukar Nagar 5th Cross 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Poombukar Nagar 5th Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 5th Cross 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 when registering property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 5th Cross Street?

The current guideline value of Poombukar Nagar 5th 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, marking an overall increase of 230% over the years.

What is the land classification for Poombukar Nagar 5th Cross Street?

Poombukar Nagar 5th Cross Street is classified as Residential Class I Type - I.

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 Kolathur?

Stamp duty for properties in Kolathur is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7% of the applicable value.