Guideline Value for KOLAPAKKAM ROAD

Kolapakkam Road guideline value

The current guideline value of Kolapakkam Road is Rs 2,860 per sq.ft, effective from 1 July 2024. This road is located in Kerugambakkam village under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Kolapakkam Road has changed

The guideline value for Kolapakkam Road has undergone several revisions over the years. The 2017 revision set the value at Rs 1,742 per sq.ft. This increased to Rs 2,600 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,860 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kolapakkam Road's 2024 figure above that median.

• Kochar's Neetu Arjun Garden: Rs 2,860 per sq.ft (2024)
• Kochar Arjun Garden: Rs 2,750 per sq.ft (2024)
• Krs Kavinaya Garden: Rs 2,050 per sq.ft (2024)
• Karthick Garden: Rs 2,530 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kolapakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost for these fees to Rs 2,57,400. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolapakkam Road?

The Kolapakkam Road is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kerugambakkam. It determines the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kolapakkam Road?

The current guideline value of Kolapakkam Road is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate. The most recent increase was from Rs 2,600 per sq.ft in 2023 to Rs 2,860 per sq.ft in 2024.

What is the classification of land on Kolapakkam Road?

Kolapakkam Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties on Kolapakkam Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 at 7%.