Guideline Value for KOLAVILI AMMAN NAGAR

Kolavili Amman Nagar guideline value

The current guideline value of Kolavili Amman Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This area 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 has changed

The guideline value for Kolavili Amman Nagar has undergone several revisions over the years. Starting from Rs 98 per sq.ft in 2002, it increased to Rs 110 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 1,110 per sq.ft in 2007, which was a 909% increase. In 2012, the value adjusted to 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 49% increase from 2012. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, followed by a rise to Rs 1,700 per sq.ft in 2024, a change of 13%.

Overall, from 2002 to 2024, the guideline value has increased by 1,635%. There are no figures available for revisions in the years not mentioned in the register 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. Kolavili Amman Nagar's current guideline value is below this median.

• Kolavili Amman Nagar 10th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Kolavili Amman Nagar 15th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kolavili Amman Nagar

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. 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?

The Sub Registrar Office that covers Kolavili Amman Nagar 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 plays a crucial role during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is often used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency in property transactions and helps in maintaining accurate records.

Frequently asked questions

What is the current guideline value of Kolavili Amman Nagar?

The current guideline value of Kolavili Amman Nagar 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 seen several changes, increasing from Rs 98 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, which is an overall increase of 1,635%.

What is the land classification of Kolavili Amman Nagar?

Kolavili Amman Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Kolavili Amman Nagar?

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

Where is the Sub Registrar Office for Kolavili Amman Nagar located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.