Guideline Value for Kolikkara Street

Kolikkara Street guideline value

The current guideline value of Kolikkara Street, located in Parangimalai village, is Rs 3,850 per sq.ft. This value is effective from 1 July 2024 and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kolikkara Street has changed

The guideline value for Kolikkara Street has seen significant changes over the years. In 2002, the guideline value was Rs 251 per sq.ft. This figure increased to Rs 438 per sq.ft in 2003, marking a rise of 75%. The value then continued to increase, reaching Rs 800 per sq.ft in 2007, which was an increase of 83%. Following this, the value surged to Rs 3,500 per sq.ft in 2012, a remarkable increase of 338%. However, it dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, followed by a final increase to the current value of Rs 3,850 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1434%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the current guideline value for Kolikkara Street.

• Kothandaramar Swamy Koil Street: Rs 3,300 per sq.ft (2024)
• Kothaval Street: Rs 3,850 per sq.ft (2024)
• Kodandaramar Street: Rs 3,300 per sq.ft (2024)
• Kesava Perumal Koil Street: Rs 3,300 per sq.ft (2024)
• Kasi Vishwanathar Street: Rs 3,300 per sq.ft (2024)
• Labbai Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kolikkara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. 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 Kolikkara Street?

The Sub Registrar Office that covers Kolikkara Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is registered accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kolikkara Street?

The current guideline value of Kolikkara Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 251 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1434% over the years.

What is the land classification for Kolikkara Street?

Kolikkara Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Kothandaramar Swamy Koil Street at Rs 3,300 per sq.ft, Kothaval Street at Rs 3,850 per sq.ft, and several others, with values ranging from Rs 2,750 to Rs 11,000 per sq.ft.

Where is the Sub Registrar Office for Kolikkara Street located?

The Sub Registrar Office for Kolikkara Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.