Guideline Value for KOLAVILI AMMAN NAGAR 13TH STREET

Kolavili Amman Nagar 13th Street guideline value

The current guideline value for Kolavili Amman Nagar 13th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kolavili Amman Nagar 13th Street has changed

The guideline value for Kolavili Amman Nagar 13th Street has undergone 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 saw a significant rise to Rs 1,110 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017 before rising again to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 1,700 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 12%. The value surged by 909% from 2003 to 2007. The increase from 2007 to 2012 was 35%, followed by a decrease of 33% from 2012 to 2017. From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 13%. Overall, from 2002 to 2024, the guideline value has increased by 1,635%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with 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, making the 2024 figure for Kolavili Amman Nagar 13th Street below the median.

• Kolavili Amman Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 10th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 13th 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 at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolavili Amman Nagar 13th Street?

The Neelankarai Sub Registrar Office covers Kolavili Amman Nagar 13th Street. The office is 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 an essential factor when registering property in Palavakkam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value that must be considered for registration purposes. It is crucial for buyers to be aware of this value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value for Kolavili Amman Nagar 13th Street?

The current guideline value for Kolavili Amman Nagar 13th 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 seen several revisions, starting from Rs 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024. There have been significant increases and decreases throughout these years.

What is the land classification for Kolavili Amman Nagar 13th Street?

Kolavili Amman Nagar 13th Street is classified as Residential Class IV Type - II. This classification affects the guideline value and other regulatory aspects of property transactions in the area.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 13th 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 Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.