Guideline Value for KULAKARAI 3rd STREET

KULAKARAI 3rd STREET guideline value

The current guideline value of KULAKARAI 3rd STREET in Okkiyamthuraipakkam village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of KULAKARAI 3rd STREET has changed

Over the years, the guideline value of KULAKARAI 3rd STREET has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, reflecting a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, marking a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no registered figures for KULAKARAI 3rd STREET in the years 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 guideline value in this area is Rs 3,300 per sq.ft, indicating that KULAKARAI 3rd STREET's 2024 figure is below this median.

• KULAKARAI 2nd STREET: Rs 2,200 per sq.ft (2024)
• KULAKARAI 1st 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 3rd 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 fees together to Rs 1,98,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KULAKARAI 3rd STREET?

KULAKARAI 3rd 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It helps determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is sold, the guideline value serves as a reference point for the transaction. Buyers and sellers must consider this value to understand the financial implications of the sale, including the taxes and fees that will be incurred during the registration process.

Frequently asked questions

What is the current guideline value of KULAKARAI 3rd STREET?

The current guideline value of KULAKARAI 3rd 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with several revisions in between. The most recent increase was 10% from the 2023 figure of Rs 2,000 per sq.ft.

What is the land classification for KULAKARAI 3rd STREET?

KULAKARAI 3rd STREET is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 3rd STREET?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.