Guideline Value for KOLAVILI AMMAN NAGAR 18TH STREET

Kolavili Amman Nagar 18th Street guideline value

The current guideline value for Kolavili Amman Nagar 18th 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 18th Street has changed

The guideline value for Kolavili Amman Nagar 18th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 13%. 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 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. The guideline value for Kolavili Amman Nagar 18th Street is below this median.

• Kolavili Amman Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 19th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 16th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 20th 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 18th 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 charges to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolavili Amman Nagar 18th Street?

The Kolavili Amman Nagar 18th Street falls under 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 further assistance.

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

The guideline value plays a crucial role during property registration in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. The authorities use this value to ensure that the transaction is recorded accurately and that the appropriate taxes are collected.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the total costs associated with the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kolavili Amman Nagar 18th Street?

The current guideline value for Kolavili Amman Nagar 18th 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 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Kolavili Amman Nagar 18th Street?

Kolavili Amman Nagar 18th Street is classified as Residential Class IV Type - II.

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 18th 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 guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.