Guideline Value for Kolappakkam

Kolappakkam guideline value

The current guideline value of Kolappakkam is Rs 2,750 per sq.ft, effective from 1 July 2024. This value applies to Kolapakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Kolappakkam has changed

The guideline value of Kolappakkam has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft. This was followed by a substantial increase to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision has further increased the value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and the guideline value for this street is above that median.

• Kolapakkam - Manapakkam Road Panchayath Road: Rs 2,750 per sq.ft (2024)
• Kerugambakkam Main Road: Rs 2,750 per sq.ft (2024)
• Kaththayiamman Magar: Rs 1,980 per sq.ft (2024)
• Kathiravan Nagar: Rs 2,750 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kolappakkam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolappakkam?

Kolappakkam is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kolappakkam

The guideline value plays a crucial role during the registration process when buying or selling property in Kolappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

When a property is sold, the guideline value is used to calculate the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Kolappakkam?

The current guideline value of Kolappakkam is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,750 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Kolapakkam?

The median guideline value for the 111 streets in Kolapakkam is Rs 2,200 per sq.ft, with the value for this street being above that median.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated in Kolappakkam?

Stamp duty in Kolappakkam is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.