Guideline Value for KULAKARAI 2nd STREET

KULAKARAI 2nd STREET guideline value

The current guideline value of KULAKARAI 2nd 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 it falls under the Residential Class II Type - III land classification.

How the guideline value of KULAKARAI 2nd STREET has changed

In the 2012 revision, the guideline value for KULAKARAI 2nd STREET was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, making the 2024 figure for KULAKARAI 2nd STREET below this median.

• KULAKARAI 1st 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 2nd STREET

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KULAKARAI 2nd STREET?

The KULAKARAI 2nd STREET falls under 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 crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of KULAKARAI 2nd STREET?

The current guideline value of KULAKARAI 2nd 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: it was Rs 2,000 per sq.ft in 2012, decreased to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for KULAKARAI 2nd STREET?

For a property with a guideline value of Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for KULAKARAI 2nd STREET?

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

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with KULAKARAI 2nd STREET's 2024 figure being below this median.