Guideline Value for KAMAKOTI NAGAR 7TH STREET

Kamakoti Nagar 7th Street guideline value

The current guideline value of Kamakoti Nagar 7th 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 7th Street has changed

The guideline value for Kamakoti Nagar 7th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, the value saw a significant increase to Rs 3,000 per sq.ft in 2023, followed by another rise to Rs 3,300 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase.

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, with a median of Rs 1,650 per sq.ft. Kamakoti Nagar 7th Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Kamakoti Nagar 7th 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, making the total 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamakoti Nagar 7th Street?

The Sub Registrar Office that covers Kamakoti Nagar 7th 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 details.

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

The guideline value is a critical factor when registering 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.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kamakoti Nagar 7th Street?

The current guideline value of Kamakoti Nagar 7th 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 7th Street?

The land classification for Kamakoti Nagar 7th Street is Commercial Class I Type - II.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kamakoti Nagar 7th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamakoti Nagar 7th Street?

The Sub Registrar Office for Kamakoti Nagar 7th 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.