Guideline Value for KOLAVILI AMMAN NAGAR 11TH STREET

Kolavili Amman Nagar 11th Street guideline value

The current guideline value for Kolavili Amman Nagar 11th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Kolavili Amman Nagar 11th Street has changed

The guideline value for Kolavili Amman Nagar 11th Street has seen several revisions over the years. In 2002, the value was Rs 98 per sq.ft, which increased to Rs 110 per sq.ft in 2003. Following this, the value surged significantly to Rs 1,110 per sq.ft in 2007, and then it was revised to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft. The subsequent revision in 2023 saw an increase to Rs 1,500 per sq.ft, leading to the current value of Rs 1,700 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 12%. The value jumped by 909% from 2003 to 2007, followed by a 35% increase from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Finally, the value rose by 13% from 2023 to 2024. There are no figures available for other revisions for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Kolavili Amman Nagar 11th Street's 2024 value below this median.

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

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

Which Sub Registrar Office covers Kolavili Amman Nagar 11th Street?

The Sub Registrar Office that covers Kolavili Amman Nagar 11th Street 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 crucial factor in property transactions in Palavakkam. It serves as a reference point for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties and fees. It is essential to be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that all transactions are appropriately documented and taxed.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 11th Street?

The current guideline value of Kolavili Amman Nagar 11th 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 various revisions over the years.

What is the land classification for Kolavili Amman Nagar 11th Street?

Kolavili Amman Nagar 11th Street is classified as Residential Class IV Type - II.

Which Sub Registrar Office is responsible for Kolavili Amman Nagar 11th Street?

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

How is stamp duty calculated for properties in Kolavili Amman Nagar 11th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,19,000 at 7%.