Guideline Value for EAST KULAKKARAI STREET

East Kulakkarai Street guideline value

The current guideline value of East Kulakkarai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of East Kulakkarai Street has changed

Since the year 2002, the guideline value of East Kulakkarai Street has seen several revisions. The value started at Rs 782 per sq.ft in 2002 and increased to Rs 979 per sq.ft in 2003, marking a 25% rise. The subsequent revision in 2007 saw a significant increase to Rs 1,100 per sq.ft, which was a 12% change. By 2012, the guideline value rose to Rs 3,000 per sq.ft, reflecting a substantial increase of 173% from the previous revision. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased by 10% to the current value of Rs 3,300 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 322% for East Kulakkarai Street.

Guideline values in Saidapet

In Saidapet village, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of East Kulakkarai Street is below this median.

• Duraisamy Naicken Street: Rs 3,300 per sq.ft (2024)
• Duraisamy Garden Street: Rs 3,300 per sq.ft (2024)
• Ekkattuthangal Road: Rs 8,250 per sq.ft (2024)
• Dhanasekaran Street (Raja Naicken G): Rs 4,400 per sq.ft (2024)
• Devu Naidu Street: Rs 3,300 per sq.ft (2024)
• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in East Kulakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Kulakkarai Street?

The Sub Registrar Office that covers East Kulakkarai Street is the Chennai South Joint II 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 Saidapet

The guideline value is a crucial factor in the registration process of properties in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value serves as a benchmark for these calculations.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of East Kulakkarai Street?

The current guideline value of East Kulakkarai 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 782 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 322% over the years.

What are the other streets with the same guideline value in Saidapet?

Other streets in Saidapet with the same guideline value of Rs 3,300 per sq.ft in 2024 include Duraisamy Naicken Street, Duraisamy Garden Street, and Devu Naidu Street.

Where can I find the Sub Registrar Office for East Kulakkarai Street?

The Sub Registrar Office for East Kulakkarai Street is the Chennai South Joint II 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 East Kulakkarai Street?

Stamp duty for properties in East Kulakkarai Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.