Guideline Value for KULAKARAI STREET

Kulakarai Street guideline value

The current guideline value of Kulakarai Street in Uthandi village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has seen several revisions over the years. In 2003, the guideline value was Rs 85 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a change of +253%. The value then jumped to Rs 1,500 per sq.ft in 2012, reflecting a remarkable increase of +400%. However, it decreased to Rs 1,005 per sq.ft in 2017, which was a reduction of -33%. The guideline value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it reached Rs 1,700 per sq.ft in 2024, showing an increase of +13%.

Overall, from 2003 to 2024, the guideline value has increased by +1900%. It is important to note that the register has no figure for Kulakarai Street in 2002.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 14,700 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,700 per sq.ft, which is equal to the current value of Kulakarai Street.

• Kul Mohar Beach Farm: Rs 4,400 per sq.ft (2024)
• Krishnan Garden: Rs 1,100 per sq.ft (2024)
• Krishna Kumar Garden: Rs 1,100 per sq.ft (2024)
• Krishna Garden: Rs 1,100 per sq.ft (2024)
• K.K.R.Salai: Rs 3,300 per sq.ft (2024)
• K.K.R.Farm Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees would total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai 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 details.

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

The guideline value is a crucial factor when registering property in Uthandi. It determines the amount of stamp duty and registration fees that need to be paid based on the property's value. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the transaction.

When a property is sold, the guideline value serves as a reference point for the transaction. The registration office uses this value to calculate the applicable fees, ensuring that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 85 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, representing an overall increase of +1900% over the years.

What is the land classification for Kulakarai Street?

Kulakarai Street is classified under Residential Class II Type - II land classification.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,53,000.