Guideline Value for Poombukar Nagar 7th Cross Street

Poombukar Nagar 7th Cross Street guideline value

The current guideline value of Poombukar Nagar 7th Cross 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 7th Cross Street has changed

The guideline value for Poombukar Nagar 7th Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 3,300 per sq.ft.

Overall, from 2007 to 2024, the guideline value has risen by 230%. Notably, there were 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 guideline value for these streets is Rs 3,300 per sq.ft, which aligns with the current value of Poombukar Nagar 7th Cross Street.

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

Stamp duty and registration fee for property in Poombukar Nagar 7th 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 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 and the sale price.

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

Which Sub Registrar Office covers Poombukar Nagar 7th Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 7th 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 plays a crucial role in the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is considered alongside the sale price of the property. The higher of the two amounts will be used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is appropriately documented and taxed.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 7th Cross Street?

The current guideline value of Poombukar Nagar 7th 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 median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the current value for Poombukar Nagar 7th Cross Street.

What are the stamp duty and registration fees for a property in Poombukar Nagar 7th Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Poombukar Nagar 7th Cross Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Poombukar Nagar 7th Cross Street.