Guideline Value for KAMAKOTI NAGAR 3RD STREET

Kamakoti Nagar 3rd Street guideline value

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

The guideline value for Kamakoti Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the Rs 2,010 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 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, making the 2024 figure for Kamakoti Nagar 3rd Street above the median.

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

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

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 cost for these fees to Rs 2,97,000. 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 specific calculations.

Which Sub Registrar Office covers Kamakoti Nagar 3rd Street?

The Kamakoti Nagar 3rd Street is covered 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration office will use it to calculate applicable fees.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Kamakoti Nagar 3rd Street 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a significant increase over the years.

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

Kamakoti Nagar 3rd Street is classified as Commercial Class I Type - II. This classification affects the guideline value and potential uses of the property.

Where can I find the Sub Registrar Office for Kamakoti Nagar 3rd Street?

The Sub Registrar Office for Kamakoti Nagar 3rd Street 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 Kamakoti Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.