Guideline Value for KO.CE.MANI SALAI

Ko.Ce.Mani Salai guideline value

The current guideline value of Ko.Ce.Mani Salai is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Ko.Ce.Mani Salai has changed

The guideline value for Ko.Ce.Mani Salai has seen significant changes over the years. In 2002, the guideline value was Rs 63 per sq.ft, which increased to Rs 100 per sq.ft in 2003. Following this, there was a remarkable rise to Rs 700 per sq.ft in 2007, marking a 600% increase. The value then saw a substantial increase to Rs 3,500 per sq.ft in 2012, reflecting a 400% change. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 6090%. The revisions from the years 2017, 2023, and 2024 have specific figures recorded for this street, while the register has no figure for the years 2012 and 2017.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Ko.Ce.Mani Salai's 2024 figure above this median.

• Kolavili Amman Nagar: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 10th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 14th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ko.Ce.Mani Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ko.Ce.Mani Salai?

The Sub Registrar Office that covers Ko.Ce.Mani Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Palavakkam

The guideline value is a critical factor when buying or selling property in Palavakkam, as it determines the minimum value at which a property can be registered. This value is essential for calculating the applicable stamp duty and registration fees during the transaction.

When a buyer purchases property, they must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value as per the current guidelines.

Frequently asked questions

What is the current guideline value of Ko.Ce.Mani Salai?

The current guideline value of Ko.Ce.Mani Salai is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 63 per sq.ft to Rs 3,900 per sq.ft in 2024, marking a total increase of 6090%.

What is the land classification for Ko.Ce.Mani Salai?

Ko.Ce.Mani Salai is classified as Residential Class II Type - I.

What are the stamp duty rates for properties in Ko.Ce.Mani Salai?

The stamp duty rate for properties in Ko.Ce.Mani Salai is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.