Guideline Value for KOLAVILI AMMAN NAGAR 4TH STREET

Kolavili Amman Nagar 4th Street guideline value

The current guideline value of Kolavili Amman Nagar 4th 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 4th Street has changed

The guideline value for Kolavili Amman Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 98 per sq.ft. This increased to Rs 110 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,110 per sq.ft in 2007, a remarkable increase of 909%. Following this, the value adjusted to Rs 1,500 per sq.ft in 2012, which was a decrease of 33% from the previous revision. In 2017, the guideline value rose again to Rs 1,005 per sq.ft, and then increased to Rs 1,500 per sq.ft in 2023, reflecting a 49% rise. The latest revision in 2024 set the value at Rs 1,700 per sq.ft, an increase of 13% from 2023.

There are no figures available for any other revisions for this street in the register.

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 of Kolavili Amman Nagar 4th Street is below this median.

• Kolavili Amman Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 24th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 7th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 4th 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 fees together 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.

Which Sub Registrar Office covers Kolavili Amman Nagar 4th Street?

The Kolavili Amman Nagar 4th Street is covered by 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 the registration of property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the transaction process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 4th Street?

The current guideline value of Kolavili Amman Nagar 4th 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 significantly from Rs 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1635% over the years.

What is the land classification for Kolavili Amman Nagar 4th Street?

Kolavili Amman Nagar 4th Street is classified as Residential Class IV Type - II.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Kolavili Amman Nagar 4th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.