Guideline Value for Poombukar Nagar 9th Cross Street

Poombukar Nagar 9th Cross Street guideline value

The current guideline value of Poombukar Nagar 9th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Poombukar Nagar 9th Cross Street has changed

The guideline value for Poombukar Nagar 9th Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both 2012 and 2023. However, there was no figure available for the years 2002, 2003, and 2017. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The 2007 to 2012 revision saw a notable increase of 200%, while there was no change from 2012 to 2023. The consistent rise in the guideline value indicates the evolving landscape of property valuation in this area.

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 9th Cross Street.

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

Stamp duty and registration fee for property in Poombukar Nagar 9th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Poombukar Nagar 9th Cross Street?

The Sub Registrar Office covering Poombukar Nagar 9th Cross 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 is a crucial factor in property transactions in Kolathur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Additionally, the guideline value helps in establishing a benchmark for property prices in the area, providing clarity for both buyers and sellers. It is essential to be aware of the current guideline value when engaging in property transactions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Poombukar Nagar 9th Cross Street?

The current guideline value of Poombukar Nagar 9th 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, marking a 230% increase overall.

What is the land classification for Poombukar Nagar 9th Cross Street?

The land classification for Poombukar Nagar 9th Cross Street is Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Poombukar Nagar 9th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.