Guideline Value for KULAKARAI LANE

Kulakarai Lane guideline value

The current guideline value of Kulakarai Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Kulakarai Lane has changed

Since the 2012 revision, the guideline value for Kulakarai Lane has seen several changes. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, there was a significant increase to Rs 3,000 per sq.ft in 2023, and further to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The jump from 2017 to 2023 was a notable 49%, while the drop from 2012 to 2017 was 33%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing Kulakarai Lane's 2024 figure below that median.

• Kulathankarai Street: Rs 3,300 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,300 per sq.ft (2024)
• Kolaperumal School Street: Rs 7,100 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakarai Lane?

The Sub Registrar Office that covers Kulakarai Lane is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. This ensures that both parties are aware of the minimum value recognized by the government, facilitating a transparent process in property dealings.

Frequently asked questions

What is the current guideline value of Kulakarai Lane?

The current guideline value of Kulakarai Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kulakarai Lane?

Kulakarai Lane is classified as Residential Class V Type - I, indicating its designation for residential use.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Kulakarai Lane?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.