Guideline Value for KULAKARAI 1st STREET

KULAKARAI 1st STREET guideline value

The current guideline value of KULAKARAI 1st STREET is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of KULAKARAI 1st STREET has changed

The guideline value for KULAKARAI 1st STREET has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This was a reduction of 33%. However, the value saw significant increases in subsequent years, rising to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of KULAKARAI 1st STREET is below this median.

• KULAKARAI 2nd STREET: Rs 2,200 per sq.ft (2024)
• KULAKARAI 3rd STREET: Rs 2,200 per sq.ft (2024)
• Kulakkarai Street: Rs 2,800 per sq.ft (2024)
• Kumara Guru Avenue: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in KULAKARAI 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers KULAKARAI 1st STREET?

The Sub Registrar Office that covers KULAKARAI 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of KULAKARAI 1st STREET?

The current guideline value of KULAKARAI 1st STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being an increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for KULAKARAI 1st STREET?

KULAKARAI 1st STREET is classified as Residential Class II Type - III under the Neelankarai SRO.

Where can I find the registration office for KULAKARAI 1st STREET?

The registration office for KULAKARAI 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in KULAKARAI 1st STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 at a rate of 7%.