Guideline Value for Kamakotti Nagar Cross Street

Kamakotti Nagar Cross Street guideline value

The current guideline value of Kamakotti Nagar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Kamakotti Nagar Cross Street has changed

The guideline value for Kamakotti Nagar Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. However, the value decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kamakotti Nagar Cross Street above this median at Rs 3,300 per sq.ft.

• Kamakotti Nagar: Rs 3,300 per sq.ft (2024)
• Kamakshi Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Colony Sharmila Street: Rs 4,400 per sq.ft (2024)
• Kalyanasundram Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakotti Nagar Cross Street

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, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamakotti Nagar Cross Street?

The Kamakotti Nagar Cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers must ensure that the sale price is not lower than the guideline value to avoid legal complications during registration.

Frequently asked questions

What is the current guideline value of Kamakotti Nagar Cross Street?

The current guideline value of Kamakotti Nagar Cross 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the stamp duty for property in Kamakotti Nagar Cross Street?

The stamp duty for a property in Kamakotti Nagar Cross Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,31,000.

Which Sub Registrar Office should I visit for Kamakotti Nagar Cross Street?

The Tambaram Joint 1 Sub Registrar Office covers Kamakotti Nagar Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Kamakotti Nagar Cross Street?

Kamakotti Nagar Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.