Guideline Value for East Kulakkarai Street

East Kulakkarai Street guideline value

The current guideline value of East Kulakkarai Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of East Kulakkarai Street has changed

Over the years, the guideline value of East Kulakkarai Street has undergone several revisions. The 2007 revision recorded a value of Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then saw a decrease to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,900 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 290%, reflecting significant changes over the years.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value across these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of East Kulakkarai Street.

• East Mada Street: Rs 3,900 per sq.ft (2024)
• East Mada Veedhi: Rs 3,900 per sq.ft (2024)
• Eshwaran Koil Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Nagar first Street: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram 2nd Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram 3rd Street: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, these fees would total Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Kulakkarai Street?

The Sub Registrar Office that covers East Kulakkarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of East Kulakkarai Street?

The current guideline value of East Kulakkarai Street is Rs 3,900 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 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 290% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for East Kulakkarai Street?

The Alandur Sub Registrar Office is responsible for handling registrations for East Kulakkarai Street, located in Nanganallur.

What is the land classification for East Kulakkarai Street?

East Kulakkarai Street is classified as Residential Class II Type - I, which is important for understanding the zoning and usage regulations in the area.