Guideline Value for KAMAKOTI NAGAR 6TH STREET

Kamakoti Nagar 6th Street guideline value

The current guideline value of Kamakoti Nagar 6th 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 6th Street has changed

The guideline value for Kamakoti Nagar 6th 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 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 latest revision in 2024 has 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 figure for Kamakoti Nagar 6th Street for the years 2002, 2003, and 2007. 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 with 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, making Kamakoti Nagar 6th Street's 2024 figure of Rs 3,300 per sq.ft above the median.

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

Stamp duty and registration fee for property in Kamakoti Nagar 6th 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 for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamakoti Nagar 6th Street?

Kamakoti Nagar 6th 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. 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 in property transactions in Pallikaranai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must consider this value when negotiating property prices.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Kamakoti Nagar 6th Street?

The current guideline value of Kamakoti Nagar 6th 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 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 6th Street?

The land classification for Kamakoti Nagar 6th Street is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Kamakoti Nagar 6th Street?

The Sub Registrar Office covering Kamakoti Nagar 6th 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 6th Street?

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 would incur a stamp duty of Rs 2,31,000.