Guideline Value for Poombukar Nagar 6th Street

Poombukar Nagar 6th Street guideline value

The current guideline value of Poombukar Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 6th Street has changed

The guideline value of Poombukar Nagar 6th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, when 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, marking a 200% rise. However, there were no recorded figures for this street in the revisions of 2002, 2003, and 2017.

In 2023, the guideline value remained at Rs 3,000 per sq.ft. The most recent revision in 2024 increased the value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. 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 have a 2024 guideline value ranging 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 guideline value for Poombukar Nagar 6th Street.

• Poombukar Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 6th 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, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Poombukar Nagar 6th Street?

The Sub Registrar Office that covers Poombukar Nagar 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 6th Street?

The current guideline value of Poombukar Nagar 6th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a total increase of 230% over the years.

What is the land classification for Poombukar Nagar 6th Street?

Poombukar Nagar 6th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.