Guideline Value for KOLLATTI BAJANI KOVIL ST

Kollatti Bajani Kovil St guideline value

The current guideline value of Kollatti Bajani Kovil St is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Kolatti village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Kollatti Bajani Kovil St has changed

The guideline value for Kollatti Bajani Kovil St has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, which marked a significant drop of 33%. However, the value increased to Rs 200 per sq.ft in the 2023 revision, and subsequently rose to Rs 220 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Kollatti Bajani Kovil St is below this median.

• Kollatti Kuttu Road Salai: Rs 220 per sq.ft (2024)
• Naidu Street: Rs 220 per sq.ft (2024)
• Nandiyam Pakkam Road: Rs 220 per sq.ft (2024)
• Gayathri Nagar: Rs 330 per sq.ft (2024)
• Parasakthi Nagar: Rs 220 per sq.ft (2024)
• Prasanthi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Kollatti Bajani Kovil St

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Kollatti Bajani Kovil St?

The Kollatti Bajani Kovil St falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kolatti. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal property transfers. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives its due revenue from property transactions, as the stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kollatti Bajani Kovil St?

The current guideline value of Kollatti Bajani Kovil St is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800.

Which office handles the registration for Kollatti Bajani Kovil St?

The Ponneri Sub Registrar Office handles the registration for Kollatti Bajani Kovil St, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Kollatti Bajani Kovil St?

Kollatti Bajani Kovil St is classified as Residential Class II Type - I, indicating its suitability for residential development.