Guideline Value for KAMAKOTI NAGAR 3RD MAIN ROAD EXTENSION

Kamakoti Nagar 3rd Main Road Extension guideline value

The current guideline value of Kamakoti Nagar 3rd Main Road Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This property 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 3rd Main Road Extension has changed

The guideline value for Kamakoti Nagar 3rd Main Road Extension has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kamakoti Nagar 3rd Main Road Extension above that median.

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

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, and 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamakoti Nagar 3rd Main Road Extension?

The Sub Registrar Office that covers Kamakoti Nagar 3rd Main Road Extension 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Pallikaranai. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are paid. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamakoti Nagar 3rd Main Road Extension?

The current guideline value of Kamakoti Nagar 3rd Main Road Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kamakoti Nagar 3rd Main Road Extension?

The land classification for Kamakoti Nagar 3rd Main Road Extension is Commercial Class I Type - II.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, which is calculated on the higher of the guideline value or the sale price.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting 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. More details can be found here.