Guideline Value for KOLAVILI AMMAN NAGAR 14TH STREET

Kolavili Amman Nagar 14th Street guideline value

The current guideline value for Kolavili Amman Nagar 14th 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 14th Street has changed

The guideline value for Kolavili Amman Nagar 14th Street has seen several revisions over the years. In 2002, the guideline value was Rs 98 per sq.ft, which increased significantly to Rs 110 per sq.ft in 2003. Following this, the value surged to Rs 1,110 per sq.ft in 2007, then to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023 before reaching the current figure of Rs 1,700 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 12% from 2002 to 2003, followed by a remarkable 909% increase from 2003 to 2007. The value then increased by 35% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. After that, the value increased by 49% from 2017 to 2023, and finally, there was a 13% increase from 2023 to 2024. 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 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 14th Street's 2024 figure is below this median.

• Kolavili Amman Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 16th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 10th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be 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, making the total amount payable Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kolavili Amman Nagar 14th Street?

The Sub Registrar Office that covers Kolavili Amman Nagar 14th 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 the registration process when buying or selling property in Palavakkam. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers should ensure they are aware of the current guideline value to understand the financial implications of their property dealings.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that all transactions are valued appropriately and that the government receives the necessary revenue from property sales.

Frequently asked questions

What is the current guideline value for Kolavili Amman Nagar 14th Street?

The current guideline value for Kolavili Amman Nagar 14th 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 this period.

What is the land classification for Kolavili Amman Nagar 14th Street?

The land classification for Kolavili Amman Nagar 14th Street is Residential Class IV Type - II.

What are the stamp duty and registration fees for a property in this area?

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

Where is the Sub Registrar Office located for this street?

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