Guideline Value for KOLLATTI KUTTU ROAD SALAI

Kollatti Kuttu Road Salai guideline value

The current guideline value of Kollatti Kuttu Road Salai 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 Kuttu Road Salai has changed

Over the years, the guideline value for Kollatti Kuttu Road Salai has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017. However, the value increased to Rs 200 per sq.ft in 2023, and then further rose to Rs 220 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 figure to the current 2024 value reflects a 10% increase. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

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 of Kollatti Kuttu Road Salai is below this median.

• Kollatti Bajani Kovil St: 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 Kuttu Road Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kollatti Kuttu Road Salai?

The Kollatti Kuttu Road Salai is covered by 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 in the property registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in Kolatti. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kollatti Kuttu Road Salai?

The current guideline value of Kollatti Kuttu Road Salai 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 increased to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024.

What is the land classification of Kollatti Kuttu Road Salai?

Kollatti Kuttu Road Salai is classified as Residential Class II Type - I.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at a rate of 7%.