Guideline Value for KOLAVILI AMMAN NAGAR 16TH STREET

Kolavili Amman Nagar 16th Street guideline value

The current guideline value of Kolavili Amman Nagar 16th 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 16th Street has changed

Over the years, the guideline value for Kolavili Amman Nagar 16th Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,700 per sq.ft, marking an increase of 13% from the previous year.

In summary, the guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,700 per sq.ft in 2024, resulting in an overall increase of 13% over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a guideline value for 2024 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, indicating that Kolavili Amman Nagar 16th Street's 2024 figure of Rs 1,700 per sq.ft is below this median.

• Kolavili Amman Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• 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 18th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 12th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 16th Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value totals 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 the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Kolavili Amman Nagar 16th Street?

The Sub Registrar Office that covers Kolavili Amman Nagar 16th 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 plays a crucial role during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 16th Street?

The current guideline value of Kolavili Amman Nagar 16th 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,700 per sq.ft in 2024, with notable increases and decreases in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the median guideline value in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, which is higher than the guideline value of Kolavili Amman Nagar 16th Street.

What are the stamp duty and registration fees for properties 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.

Which office handles property registrations for Kolavili Amman Nagar 16th Street?

The Neelankarai Sub Registrar Office is responsible for property registrations in Kolavili Amman Nagar 16th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.