Guideline Value for KOLAVILI AMMAN NAGAR 15TH STREET

Kolavili Amman Nagar 15th Street guideline value

The current guideline value of Kolavili Amman Nagar 15th 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 15th Street has changed

Over the years, the guideline value for Kolavili Amman Nagar 15th Street has seen significant changes. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 98 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a 12% rise. The value then surged dramatically to Rs 1,110 per sq.ft in 2007, reflecting a substantial increase of 909%. Following this, the value saw a rise to Rs 1,500 per sq.ft in 2012, which was a 35% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, indicating a decline of 33%. The guideline value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,700 per sq.ft in 2024, which is a 13% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,635%. The register has no figures for the years not mentioned in this summary.

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. The median guideline value in this area is Rs 3,300 per sq.ft, placing Kolavili Amman Nagar 15th Street's 2024 figure below that median.

• Kolavili Amman Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 16th 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 17th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 15th 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 amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Kolavili Amman Nagar 15th Street?

The Sub Registrar Office that covers Kolavili Amman Nagar 15th 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 here.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Palavakkam. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's official valuation.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 15th Street?

The current guideline value of Kolavili Amman Nagar 15th 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 15th Street?

The land classification for Kolavili Amman Nagar 15th Street is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office, which covers Kolavili Amman Nagar 15th Street, 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 15th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.