Guideline Value for Amman Koil Street

Amman Koil Street guideline value

The current guideline value of Amman Koil Street is Rs 2,700 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 II Type - I.

How the guideline value of Amman Koil Street has changed

Since the 2002 revision, the guideline value for Amman Koil Street has seen significant changes. In 2002, the value was Rs 306 per sq.ft, which increased to Rs 332 per sq.ft in 2003. The value then rose dramatically to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value saw a substantial rise to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 782%. Notably, there are no figures available for the years in between these revisions for Amman Koil Street.

Guideline values in Kolathur

In Kolathur village, 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 value for these streets is Rs 3,300 per sq.ft, which means the guideline value for Amman Koil Street is below that median.

• Ambedkar Street (Gandhi Nagar): Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Ambedkar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Amman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amman Koil Street?

The Sub Registrar Office that covers Amman Koil 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

When buying or selling property in Kolathur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

The guideline value is used to determine the minimum value at which a property can be registered. This means that if the sale price of the property is lower than the guideline value, the stamp duty and registration fees will be based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Amman Koil Street?

The current guideline value of Amman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 306 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 782% over the years.

What is the land classification for Amman Koil Street?

Amman Koil Street is classified as Residential Class II Type - I under the Sembiam SRO.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Amman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.