Guideline Value for Kamakotti Street

Kamakotti Street guideline value

The current guideline value of Kamakotti Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Kamakotti Street has changed

The guideline value for Kamakotti Street has seen significant changes over the years. In 2007, the guideline value was Rs 620 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012. This marked a staggering increase of 626%. The value remained unchanged at Rs 4,500 per sq.ft until the 2023 revision, where it increased to Rs 4,900 per sq.ft, reflecting a 9% rise.

There are no figures available for the revisions in 2002, 2003, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 690%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is the same as that of Kamakotti Street.

• Kamarajar Colony 2nd Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 3rd Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 4th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 5th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 6th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 7th Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamakotti Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 details.

Which Sub Registrar Office covers Kamakotti Street?

The Sub Registrar Office covering Kamakotti Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When you buy or sell property, the guideline value helps in determining the minimum value at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Kamakotti Street?

The current guideline value of Kamakotti Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 690% over this period.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Kamarajar Colony 2nd Street, 3rd Street, 4th Street, 5th Street, 6th Street, and 7th Street, all with a guideline value of Rs 4,100 per sq.ft for 2024.

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

The Sub Registrar Office for Kamakotti Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated based on the guideline value?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 49,00,000, the stamp duty would be 7% of that amount.