Guideline Value for KAMAKOTI NAGAR 5TH STREET

Kamakoti Nagar 5th Street guideline value

The current guideline value of Kamakoti Nagar 5th 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 5th Street has changed

The guideline value for Kamakoti Nagar 5th Street 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 marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting 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

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which means that Kamakoti Nagar 5th Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Kamakoti Nagar 5th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost 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.

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

Which Sub Registrar Office covers Kamakoti Nagar 5th Street?

The Sub Registrar Office that covers Kamakoti Nagar 5th 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 crucial factor when registering a property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both parties are aware of the financial implications of the sale. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Kamakoti Nagar 5th 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, an increase of 10%. It was Rs 2,010 per sq.ft in 2017, which was a significant increase from Rs 3,000 per sq.ft in 2012.

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

The land classification for Kamakoti Nagar 5th Street is Commercial Class I Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a total cost of Rs 2,97,000 in fees.

Which office handles registrations for Kamakoti Nagar 5th Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Kamakoti Nagar 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.