Guideline Value for KAMAKOTI NAGAR 2ND MAIN ROAD

Kamakoti Nagar 2nd Main Road guideline value

The current guideline value of Kamakoti Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kamakoti Nagar 2nd Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded a guideline value of Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, 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 2nd Main Road's 2024 figure above this median.

• Kamakoti Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 1st Main Road Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 3rd Main Road Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 3rd Street Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakoti Nagar 2nd Main Road

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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamakoti Nagar 2nd Main Road?

The Kamakoti Nagar 2nd Main Road falls under 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 is a crucial factor during the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value ensures that the transaction is recorded at a value that reflects the local market conditions. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kamakoti Nagar 2nd Main Road?

The current guideline value of Kamakoti Nagar 2nd Main Road 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 10% over this period.

What is the land classification of Kamakoti Nagar 2nd Main Road?

Kamakoti Nagar 2nd Main Road is classified as Commercial Class I Type - II.

Where can I find the registration office for Kamakoti Nagar 2nd Main Road?

The registration office for Kamakoti Nagar 2nd Main Road 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.

How is stamp duty calculated for properties in Kamakoti Nagar?

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