Guideline Value for KULAKARAI STREET

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in SingaperumalKoil village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft, which significantly increased to Rs 800 per sq.ft in the 2012 revision, marking a remarkable increase of 1500%. However, in the 2017 revision, it decreased to Rs 536 per sq.ft, representing a drop of 33%. The value then rose to Rs 800 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

It is important to note that there are no figures available for Kulakarai Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 1500%.

Guideline values in SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kulakarai Street's 2024 figure below that median.

• Kollamettu Street: Rs 1,100 per sq.ft (2024)
• Kambar Street: Rs 800 per sq.ft (2024)
• Mandapam Street: Rs 1,100 per sq.ft (2024)
• Kabilar Street: Rs 800 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total cost for these fees Rs 72,000. 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 our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in SingaperumalKoil. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately and fairly.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 50 per sq.ft in 2007 to Rs 800 per sq.ft in 2012. The value remained at Rs 800 per sq.ft in the 2023 and 2024 revisions.

What is the median guideline value in SingaperumalKoil?

The median guideline value in SingaperumalKoil is Rs 1,100 per sq.ft, with Kulakarai Street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Kulakarai Street?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are calculated based on the guideline value.

Where is the Sub Registrar Office for Kulakarai Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Kulakarai Street.