Guideline Value for KOLAVILI AMMAN NAGAR 22ND STREET

Kolavili Amman Nagar 22nd Street guideline value

The current guideline value of Kolavili Amman Nagar 22nd 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 22nd Street has changed

The guideline value for Kolavili Amman Nagar 22nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 13%. The most recent change from 2023 to 2024 reflects a 13% increase.

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, with a median value of Rs 3,300 per sq.ft. Kolavili Amman Nagar 22nd Street's 2024 guideline value is below this median.

• Kolavili Amman Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 20th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 21st Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 23rd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 24th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 22nd 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 to Rs 1,53,000. Please note that the 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 22nd Street?

The Sub Registrar Office that covers Kolavili Amman Nagar 22nd 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 property transactions in Palavakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 22nd Street?

The current guideline value of Kolavili Amman Nagar 22nd 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 back 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 of Kolavili Amman Nagar 22nd Street?

Kolavili Amman Nagar 22nd 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 the stamp duty calculated for properties in Kolavili Amman Nagar 22nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000.