Guideline Value for KAMAKOTI NAGAR / EXTN

Kamakoti Nagar / Extn guideline value

The current guideline value for Kamakoti Nagar / Extn is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kamakoti Nagar / Extn has changed

The guideline value for Kamakoti Nagar / Extn has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kamakoti Nagar / Extn's 2024 figure above this median.

• Kamakoti Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 5th Street Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakoti Nagar / Extn

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

Which Sub Registrar Office covers Kamakoti Nagar / Extn?

The Sub Registrar Office that covers Kamakoti Nagar / Extn is the Chennai South Joint I 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 information.

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

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

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Kamakoti Nagar / Extn?

The current guideline value for Kamakoti Nagar / Extn is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023, before increasing to Rs 2,750 per sq.ft in 2024, marking a 10% increase.

What are the guideline values for other streets in Pallikaranai?

Other streets in Pallikaranai have guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. Kamakoti Nagar / Extn's value is above the median of Rs 1,650 per sq.ft.

What are the stamp duty and registration fees for property in Kamakoti Nagar / Extn?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would amount to Rs 2,47,500, which includes stamp duty and registration fees based on the guideline value.

Which office handles the registration for Kamakoti Nagar / Extn?

The registration for Kamakoti Nagar / Extn is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.