Guideline Value for KULAKARAI SOUTH STREET

Kulakarai South Street guideline value

The current guideline value of Kulakarai South Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Kulakarai South Street has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 550 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Kulakarai South Street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value is Rs 550 per sq.ft, which matches the current value of Kulakarai South Street.

• Kulakarai Street: Rs 550 per sq.ft (2024)
• Kulakarai West Street: Rs 550 per sq.ft (2024)
• K.R.K Nagar: Rs 550 per sq.ft (2024)
• K.R.Balaji Nagar: Rs 550 per sq.ft (2024)
• K.G.L.Prabu Nagar(I.II,III,): Rs 550 per sq.ft (2024)
• K.G.L.Prabu Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai South Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,50,000. The stamp duty at 7% amounts to Rs 38,500, and the registration fee at 2% is Rs 11,000, bringing the total to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakarai South Street?

The Sub Registrar Office that covers Kulakarai South Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Minjur. It determines the minimum value at which properties must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of either the guideline value or the sale price, depending on which is higher. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Kulakarai South Street?

The current guideline value of Kulakarai South Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Kulakarai South Street?

Kulakarai South Street is classified as Residential Class II Type - I. This classification affects the guideline value and property regulations in the area.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations for the area.

How is stamp duty calculated for properties in Minjur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.