Guideline Value for KOLLAMETTU STREET

Kollamettu Street guideline value

The current guideline value of Kollamettu Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in SingaperumalKoil village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Kollamettu Street has changed

The guideline value for Kollamettu Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 900%. However, this value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the guideline value register for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

Guideline values in SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, which is equal to the current value of Kollamettu Street.

• Kulakarai Street: Rs 800 per sq.ft (2024)
• Kambar Street: Rs 800 per sq.ft (2024)
• Kabilar Street: Rs 800 per sq.ft (2024)
• Mandapam Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kollamettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. Please note that the 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 further assistance.

Which Sub Registrar Office covers Kollamettu Street?

The Sub Registrar Office that covers Kollamettu Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in SingaperumalKoil. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps in ensuring that the transaction is registered at a fair value, reflecting the current market conditions as per the government’s assessment. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Kollamettu Street?

The current guideline value of Kollamettu Street is Rs 1,100 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 100 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking a total increase of 1000% over the years.

What are the other streets in SingaperumalKoil with their guideline values?

Other streets in SingaperumalKoil include Kulakarai Street, Kambar Street, Kabilar Street, Mandapam Street, Mettu Street, and M.G.R. Street, with values ranging from Rs 800 to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kollamettu Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total fees would amount to Rs 99,000.

Where can I find the Sub Registrar Office for Kollamettu Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration for properties in Kollamettu Street.