Guideline Value for KOLAVILI AMMAN NAGAR 9TH STREET

Kolavili Amman Nagar 9th Street guideline value

The current guideline value of Kolavili Amman Nagar 9th 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 9th Street has changed

The guideline value for Kolavili Amman Nagar 9th 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, marking a rise of 12%. The value then surged significantly to Rs 1,110 per sq.ft in 2007, reflecting a remarkable increase of 909%. Following this, the value was revised to Rs 1,500 per sq.ft in 2012, which was a decrease of 33%. In 2017, the value rose to Rs 1,005 per sq.ft, and then it increased to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,635%. There are no figures available for revisions in the years not listed above.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 3,300 per sq.ft, placing Kolavili Amman Nagar 9th Street's 2024 figure below that median.

• Kolavili Amman Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar Extension: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar 9th 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 cost to Rs 1,53,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolavili Amman Nagar 9th Street?

The Kolavili Amman Nagar 9th 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 when registering property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar 9th Street?

The current guideline value of Kolavili Amman Nagar 9th 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 increased from Rs 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,635% across the years.

What are the stamp duty and registration fees for property in Kolavili Amman Nagar 9th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty at 7% is Rs 1,19,000, and the registration fee at 2% is Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Kolavili Amman Nagar 9th Street?

The Neelankarai Sub Registrar Office covers Kolavili Amman Nagar 9th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Kolavili Amman Nagar 9th Street?

Kolavili Amman Nagar 9th Street is classified as Residential Class IV Type - II as per the local regulations.