Guideline Value for KOLAVILI AMMAN NAGAR 3RD STREET

Kolavili Amman Nagar 3rd Street guideline value

The current guideline value of Kolavili Amman Nagar 3rd 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 3rd Street has changed

The guideline value for Kolavili Amman Nagar 3rd Street has undergone several revisions over the years. In 2002, the value was Rs 98 per sq.ft, which saw a significant increase to Rs 110 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,110 per sq.ft in 2007. However, there was a decrease to Rs 1,500 per sq.ft in 2012. The value then decreased further to Rs 1,005 per sq.ft in 2017, before increasing to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,700 per sq.ft in the 2024 revision. The changes between these revisions include a 12% increase from 2002 to 2003, a 909% increase 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%. There are no figures available for revisions in years other than those specified.

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 3rd Street is below this median.

• Kolavili Amman Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 24th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 23rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolavili Amman Nagar 3rd Street?

The Kolavili Amman Nagar 3rd 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 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 the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 3rd Street?

The current guideline value of Kolavili Amman Nagar 3rd 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, representing an overall increase of 1,635% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property with a guideline value of Rs 1,700 per sq.ft, the stamp duty would be 7% and the registration fee would be 2%, resulting in a total of Rs 1,53,000 for a 1,000 sq.ft plot.

Which office handles registrations for Kolavili Amman Nagar 3rd Street?

The Neelankarai Sub Registrar Office handles registrations for Kolavili Amman Nagar 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the guideline value determined for properties in Palavakkam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It serves as a minimum value for property registration to ensure proper revenue collection for the government.