Guideline Value for KOLAVILI AMMAN NAGAR 1ST STREET

Kolavili Amman Nagar 1st Street guideline value

The current guideline value of Kolavili Amman Nagar 1st 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 1st Street has changed

The guideline value for Kolavili Amman Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 98 per sq.ft, which increased to Rs 110 per sq.ft in 2003. Following this, the value rose significantly 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. The value then increased to Rs 1,500 per sq.ft in 2023, and finally to the current rate of Rs 1,700 per sq.ft in 2024.

Between the revisions, notable changes include a 12% increase from 2002 to 2003, a 909% rise from 2003 to 2007, a 35% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and 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 with a 2024 guideline value 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, placing Kolavili Amman Nagar 1st Street's 2024 figure below that median.

• Kolavili Amman Nagar 19th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 20th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 18th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 21st Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 22nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 1st 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, making the total cost 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kolavili Amman Nagar 1st Street?

The Kolavili Amman Nagar 1st 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 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 of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property. It is essential for buyers to be aware of the guideline value to ensure that they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 1st Street?

The current guideline value of Kolavili Amman Nagar 1st 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 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting a significant increase of 1,635% over the years.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, which indicates that Kolavili Amman Nagar 1st Street's 2024 figure is below this median.

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 registrations for Kolavili Amman Nagar 1st Street?

The Neelankarai Sub Registrar Office handles registrations for Kolavili Amman Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.