Guideline Value for Kolachi Amman Kovil Street

Kolachi Amman Kovil Street guideline value

The current guideline value of Kolachi Amman Kovil Street is Rs 1,150 per sq.ft. This street is located in Kilambakkam village and falls under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kolachi Amman Kovil Street has changed

The guideline value for Kolachi Amman Kovil Street has seen several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,150 per sq.ft in 2012, marking a 156% increase. However, this value remained unchanged until the next revision in 2017, where it dropped to Rs 770 per sq.ft, a decrease of 33%. The most recent revision in 2023 saw the guideline value rise to Rs 1,150 per sq.ft again, reflecting an increase of 49% from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 156%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Kilambakkam

Currently, there are no specific village figures available for Kilambakkam. Kolachi Amman Kovil Street's guideline value sits at Rs 1,150 per sq.ft.

Stamp duty and registration fee for property in Kolachi Amman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,150 per sq.ft, the guideline value would be Rs 11,50,000. The stamp duty at 7% would amount to Rs 80,500, and the registration fee at 2% would be Rs 23,000, totaling Rs 1,03,500. It is important to note that the 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 Kolachi Amman Kovil Street?

The Sub Registrar Office that covers Kolachi Amman Kovil Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions as it determines the amount of stamp duty and registration fees that need to be paid. When a property is bought or sold, the guideline value is utilized to calculate these fees, ensuring that they are based on the official valuation set by the registration department.

It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any discrepancies that may arise during the transaction.

Frequently asked questions

What is the current guideline value of Kolachi Amman Kovil Street?

The current guideline value of Kolachi Amman Kovil Street is Rs 1,150 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,150 per sq.ft in 2012, then decreased to Rs 770 per sq.ft in 2017, and increased back to Rs 1,150 per sq.ft in 2023.

What is the land classification for Kolachi Amman Kovil Street?

The land classification for Kolachi Amman Kovil Street is Residential Class I Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kolachi Amman Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,03,500.