Guideline Value for KAMAKOTI STREET

Kamakoti Street guideline value

The current guideline value of Kamakoti Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kamakoti Street has changed

The guideline value for Kamakoti Street has seen significant changes over the years. In 2002, the value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003, marking an 11% rise. The value continued to grow, reaching Rs 1,000 per sq.ft in 2007, which was a substantial increase of 500%. However, in 2012, the value dropped to Rs 6,000 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 4,020 per sq.ft in 2017, showing a 49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 6,000 per sq.ft, which increased to Rs 6,600 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1085%. There are no revisions with missing figures for Kamakoti Street in the register.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current value of Kamakoti Street.

• Jubilee Road: Rs 9,900 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 6,600 per sq.ft (2024)
• Jothi Ramalingam 2 Street: Rs 4,400 per sq.ft (2024)
• Jothi Ramalingam 1 Street: Rs 4,400 per sq.ft (2024)
• Jones Road East To West: Rs 9,900 per sq.ft (2024)
• Jones Road (East) Northern Side of Anna Salai Northern Side D.No 8 to Southern side D.No 1: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakoti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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.

Which Sub Registrar Office covers Kamakoti Street?

The Sub Registrar Office that covers Kamakoti Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Mambalam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This value ensures that the government receives the correct amount of revenue from property transactions.

When you register a property, the guideline value acts as a benchmark. If the sale price of the property is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that the registration process is fair and transparent.

Frequently asked questions

What is the current guideline value of Kamakoti Street?

The current guideline value of Kamakoti Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 557 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 1085% over the years.

What is the land classification for Kamakoti Street?

Kamakoti Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Thiyagaraya nagar Sub Registrar Office covers Kamakoti Street and is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Kamakoti Street?

The stamp duty for properties in Kamakoti Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.