Guideline Value for Kamakotti Nagar

Kamakotti Nagar guideline value

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

How the guideline value of Kamakotti Nagar has changed

Over the years, the guideline value of Kamakotti Nagar has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in 2017. The 2023 revision then increased the value to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, marking a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for 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 value is Rs 1,650 per sq.ft, placing Kamakotti Nagar's 2024 value above this median.

• Kamakotti Nagar Cross Street: 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

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 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 Kamakotti Nagar?

The Sub Registrar Office that covers Kamakotti Nagar is 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 is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It determines 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 a property is sold, the sale price should be compared to the guideline value. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, ensuring that the transaction is fair and transparent.

Frequently asked questions

What is the current guideline value of Kamakotti Nagar?

The current guideline value of Kamakotti Nagar 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, reflecting a 10% increase. The value has also increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, marking a 49% rise.

What is the land classification for Kamakotti Nagar?

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

What are the stamp duty rates for properties in Kamakotti Nagar?

The stamp duty rate for properties in Kamakotti Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kamakotti Nagar located?

The Sub Registrar Office for Kamakotti Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.