Guideline Value for KOLATCHIAMMAN KOIL STREET

Kolatchiamman Koil Street guideline value

The current guideline value of Kolatchiamman Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kolatchiamman Koil Street has changed

Over the years, the guideline value of Kolatchiamman Koil Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,800 per sq.ft in the 2023 revision, and finally to Rs 1,950 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. Notably, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value across these streets is Rs 1,950 per sq.ft, which is the same as the current guideline value for Kolatchiamman Koil Street.

• Karanai Road: Rs 2,200 per sq.ft (2024)
• Kanni Koil Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil Second Cross Street: Rs 1,650 per sq.ft (2024)
• Kanni Koil First Cross Street: Rs 1,650 per sq.ft (2024)
• Kambar Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kolatchiamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolatchiamman Koil Street?

The Kolatchiamman Koil Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the property registration process in Ottiyampakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The rates are fixed by the government and are updated periodically based on various factors.

When you register a property, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kolatchiamman Koil Street?

The current guideline value of Kolatchiamman Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What are the stamp duty rates for properties in Kolatchiamman Koil Street?

The stamp duty for properties in Kolatchiamman Koil Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Kolatchiamman Koil Street?

Kolatchiamman Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.