Guideline Value for KAMAKOTI NAGAR 3RD STREET EXTENSION

Kamakoti Nagar 3rd Street Extension guideline value

The current guideline value of Kamakoti Nagar 3rd Street 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 Street Extension has changed

Over the years, the guideline value for Kamakoti Nagar 3rd Street Extension has undergone several revisions. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, representing 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, which is a 10% increase from the previous year.

It is important to note that 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, making the current value of Kamakoti Nagar 3rd Street Extension above the median.

• Kamakoti Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 3rd Main Road Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 5th Street Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakoti Nagar 3rd Street Extension

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 Street Extension?

The Sub Registrar Office that covers Kamakoti Nagar 3rd Street 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 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 during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

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

The current guideline value of Kamakoti Nagar 3rd Street Extension 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

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

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

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kamakoti Nagar 3rd Street Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty and registration fee of Rs 2,97,000.