Guideline Value for Kollai Street

Kollai Street guideline value

The current guideline value of Kollai Street is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Kollai Street has changed

The guideline value for Kollai Street has seen significant changes over the years. In the 2017 revision, the value was Rs 871 per sq.ft, which then increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 shows a further increase to Rs 1,430 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, indicating that Kollai Street's 2024 figure is below the median.

• Kotharai Nagar: Rs 1,430 per sq.ft (2024)
• Krishna Nagar: Rs 1,430 per sq.ft (2024)
• Kudumi Street: Rs 1,430 per sq.ft (2024)
• Kumaran Avenue: Rs 1,920 per sq.ft (2024)
• Kumaran Nagar: Rs 1,430 per sq.ft (2024)
• Kumudam Enclave: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Kollai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total charges to Rs 1,28,700. Note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kollai Street?

The Sub Registrar Office that covers Kollai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor during property registration in Kunrathour-B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for calculating stamp duty and registration fees. Buyers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kollai Street?

The current guideline value of Kollai Street is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and then to Rs 1,430 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the median guideline value in Kunrathour-B?

The median guideline value in Kunrathour-B is Rs 1,540 per sq.ft, which is higher than the current value of Kollai Street.

What are the stamp duty and registration fees for properties in Kollai Street?

For a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 and the registration fee would be Rs 28,600, totaling Rs 1,28,700. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kollai Street located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registrations for properties in Kollai Street.