Guideline Value for KAMAKOTI NAGAR MAIN ROAD

Kamakoti Nagar Main Road guideline value

The current guideline value of Kamakoti Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

Over the years, the guideline value for Kamakoti Nagar Main Road has seen several revisions. 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 rose significantly to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 as per the 2024 revision. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current rate for Kamakoti Nagar Main Road above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees 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 details on the fees applicable to your property transaction.

Which Sub Registrar Office covers Kamakoti Nagar Main Road?

The Sub Registrar Office that covers Kamakoti Nagar Main Road 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 critical factor when buying or selling property in Pallikaranai. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees that buyers must pay at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the guideline value to ensure they are paying the correct fees during the registration process.

Frequently asked questions

What is the current guideline value for Kamakoti Nagar Main Road?

The current guideline value for Kamakoti Nagar Main Road 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. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Kamakoti Nagar Main Road?

The land classification for Kamakoti Nagar Main Road is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Kamakoti Nagar Main Road?

The Sub Registrar Office for Kamakoti Nagar Main Road 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.

How is the stamp duty calculated for properties in Kamakoti Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.