Guideline Value for KAMAKOTI NAGAR 5TH STREET EXTENSION

Kamakoti Nagar 5th Street Extension guideline value

The current guideline value of Kamakoti Nagar 5th Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Kamakoti Nagar 5th Street Extension has changed

The guideline value for Kamakoti Nagar 5th Street Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally rose to Rs 3,300 per sq.ft in the 2024 revision, marking a change of 10% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the value decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village 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 5th Street Extension above this median with its 2024 figure of Rs 3,300 per sq.ft.

• Kamakoti Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 3rd Street Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar / Extn: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakoti Nagar 5th Street 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that 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 5th Street Extension?

The Kamakoti Nagar 5th Street Extension 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared with the sale price to determine the applicable duties. The higher of the two figures is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation and transfer of ownership.

Frequently asked questions

What is the current guideline value of Kamakoti Nagar 5th Street Extension?

The current guideline value of Kamakoti Nagar 5th 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which marked a significant increase of 49% to the 2023 figure.

What is the land classification for Kamakoti Nagar 5th Street Extension?

Kamakoti Nagar 5th Street Extension is classified as Commercial Class I Type - II. This classification can impact the usage and development of properties in the area.

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

The Sub Registrar Office covering Kamakoti Nagar 5th 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 Kamakoti Nagar 5th Street Extension?

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