Guideline Value for KOLAVILI AMMAN NAGAR 10TH STREET

Kolavili Amman Nagar 10th Street guideline value

The current guideline value for Kolavili Amman Nagar 10th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kolavili Amman Nagar 10th Street has changed

The guideline value for Kolavili Amman Nagar 10th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 98 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a 12% rise. Subsequent revisions saw a significant increase, with the 2007 revision setting the value at Rs 1,110 per sq.ft, which was a 909% increase from the 2003 figure. In 2012, the value was Rs 1,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision brought it back up to Rs 1,005 per sq.ft, and then it rose to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, which is a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,635%. The register has no figure for revisions in the years not listed above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kolavili Amman Nagar 10th Street's 2024 guideline value is below this median.

• Kolavili Amman Nagar: 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)
• Kolavili Amman Nagar 15th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total charges would be Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kolavili Amman Nagar 10th Street?

The Kolavili Amman Nagar 10th Street falls under 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 plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Kolavili Amman Nagar 10th Street?

The current guideline value for Kolavili Amman Nagar 10th Street is Rs 1,700 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 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,635% over the years.

What are the registration fees for property in Kolavili Amman Nagar 10th Street?

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000 and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Kolavili Amman Nagar 10th Street?

The Neelankarai Sub Registrar Office handles registrations for Kolavili Amman Nagar 10th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Kolavili Amman Nagar 10th Street's value being below this median at Rs 1,700 per sq.ft.