Guideline Value for KAMAKOTI NAGAR 2ND STREET

Kamakoti Nagar 2nd Street guideline value

The current guideline value of Kamakoti Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Kamakoti Nagar 2nd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure saw a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

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 as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, positioning Kamakoti Nagar 2nd Street's 2024 figure above that median.

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

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

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

Which Sub Registrar Office covers Kamakoti Nagar 2nd Street?

The Sub Registrar Office that covers Kamakoti Nagar 2nd Street 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 is a critical metric used during the registration of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. The stamp duty is charged on the higher of the guideline value and the sale price, which can impact the total cost of the transaction.

Frequently asked questions

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

The current guideline value of Kamakoti Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting from Rs 3,000 in 2012, dropping to Rs 2,010 in 2017, and then rising to Rs 3,000 in 2023 before reaching Rs 3,300 in 2024.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with Kamakoti Nagar 2nd Street's 2024 figure being above this median.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kamakoti Nagar 2nd Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Kamakoti Nagar 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.