Guideline Value for Poombukar Nagar 8th Cross Street

Poombukar Nagar 8th Cross Street guideline value

The current guideline value of Poombukar Nagar 8th 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, and is classified as Residential Class I Type - I.

How the guideline value of Poombukar Nagar 8th Cross Street has changed

The guideline value for Poombukar Nagar 8th Cross Street has seen significant changes over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw a further increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

From 2007 to 2012, the guideline value increased by 200%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no 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 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 matches the current value of Poombukar Nagar 8th Cross Street.

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

Stamp duty and registration fee for property in Poombukar Nagar 8th 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 fees to Rs 2,97,000. Stamp 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 details.

Which Sub Registrar Office covers Poombukar Nagar 8th Cross Street?

The Sub Registrar Office that covers Poombukar Nagar 8th 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 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 transaction is documented accurately.

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 government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 8th Cross Street?

The current guideline value of Poombukar Nagar 8th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles the registration of properties in Poombukar Nagar 8th Cross Street?

The Sembiam Sub Registrar Office handles the registration of properties in Poombukar Nagar 8th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Poombukar Nagar 8th Cross Street?

Poombukar Nagar 8th Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.