Guideline Value for Poombukar Nagar 7th Street

Poombukar Nagar 7th Street guideline value

The current guideline value of Poombukar Nagar 7th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Poombukar Nagar 7th Street has changed

The guideline value for Poombukar Nagar 7th Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which also recorded no change. However, from 2023 to 2024, the guideline value rose by 10% to Rs 3,300 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 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 is equal to the 2024 figure for Poombukar Nagar 7th Street.

• Poombukar Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Poombukar Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Poombukar Nagar 7th 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 our stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Poombukar Nagar 7th Street?

The Sub Registrar Office that covers Poombukar Nagar 7th 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 plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable during the registration of the property. The guideline value serves as a benchmark for the minimum value at which properties can be registered.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two will be used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for Poombukar Nagar 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, 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 registration office for Poombukar Nagar 7th Street?

The registration office for Poombukar Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated in Kolathur?

Stamp duty in Kolathur is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.

Are there other streets in Kolathur with the same guideline value?

Yes, several other streets in Kolathur have the same guideline value of Rs 3,300 per sq.ft for the year 2024. These include Poombukar Nagar 7th Cross Street, 8th Cross Street, 6th Street, 8th Street, 6th Cross Street, and 9th Cross Street.