Guideline Value for KOLAVILI AMMAN NAGAR 5TH STREET

Kolavili Amman Nagar 5th Street guideline value

The current guideline value of Kolavili Amman Nagar 5th 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 5th Street has changed

The guideline value for Kolavili Amman Nagar 5th Street has seen several revisions over the years. Starting from Rs 98 per sq.ft in 2002, the value increased to Rs 110 per sq.ft in 2003, marking a 12% rise. The subsequent revisions saw a significant increase, with the value reaching Rs 1,110 per sq.ft in 2007, which was a 909% increase from the 2002 figure. In 2012, the value was Rs 1,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision set the value at Rs 1,005 per sq.ft, which was a further increase to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024, marking a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,635%. The register does not have figures for any other revisions 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 of Kolavili Amman Nagar 5th Street is below this median.

• Kolavili Amman Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 5th 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, leading to a total of Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kolavili Amman Nagar 5th Street?

The Kolavili Amman Nagar 5th 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 more information.

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

The guideline value is a critical factor when registering property transactions in Palavakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value provides a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 5th Street?

The current guideline value of Kolavili Amman Nagar 5th 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 an overall increase of 1,635% over this period.

What is the land classification for Kolavili Amman Nagar 5th Street?

Kolavili Amman Nagar 5th Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft plot at Rs 1,700 per sq.ft, the total fees would amount to Rs 1,53,000.

Which office handles registrations for Kolavili Amman Nagar 5th Street?

The Neelankarai Sub Registrar Office handles registrations for Kolavili Amman Nagar 5th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.