Guideline Value for Kolappan Street

Kolappan Street guideline value

The current guideline value of Kolappan Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Kolappan Street has changed

Over the years, the guideline value of Kolappan Street has seen significant changes. In 2003, the guideline value was Rs 486 per sq.ft. This figure rose to Rs 800 per sq.ft in 2007, marking an increase of 65%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable growth of 275%. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figure for Kolappan Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 579%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Kolappan Street.

• Kollanchavadi: Rs 2,750 per sq.ft (2024)
• Kothandam Nagar 1 To 5 Streets: Rs 3,520 per sq.ft (2024)
• Kottabomman Cross Street: Rs 2,160 per sq.ft (2024)
• Kottabomman Street: Rs 3,520 per sq.ft (2024)
• Kovalan 2nd Street: Rs 2,160 per sq.ft (2024)
• Kovalan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kolappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kolappan Street?

The Sub Registrar Office that covers Kolappan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value as it affects the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the government receives appropriate revenue from the transaction. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kolappan Street?

The current guideline value of Kolappan Street is Rs 3,300 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 486 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 579%.

What is the land classification of Kolappan Street?

Kolappan Street is classified as Residential Class I Type - II.

Where can I find the registration office for Kolappan Street?

The registration office is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Kolappan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.