Guideline Value for KULAKARAI STREET

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 385 per sq.ft, effective from 1 July 2024. This street is located in the village of Thirukkachur - 1 and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has undergone several revisions over the years. In 2012, the value was set at Rs 350 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 234 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 350 per sq.ft in the 2023 revision, followed by a further increase to Rs 385 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Kulakarai Street.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 385 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 660 per sq.ft, placing Kulakarai Street's 2024 figure below this median.

• Kurinchi Nagar: Rs 660 per sq.ft (2024)
• Kothari Nagar Phase - II: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - I: Rs 550 per sq.ft (2024)
• Kothari Nagar Phase - III: Rs 550 per sq.ft (2024)
• Kasthuri Nagar: Rs 1,474 per sq.ft (2024)
• Lss Vasantham Avenue: Rs 1,843 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, while the registration fee at 2% would be Rs 7,700, bringing the total charges to Rs 34,650. 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 details.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

When buying or selling property in Thirukkachur - 1, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is set by the government and is used as a benchmark for property transactions in the area.

At the time of registration, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then to Rs 350 per sq.ft in 2023, and finally to Rs 385 per sq.ft in 2024.

What is the land classification for Kulakarai Street?

The land classification for Kulakarai Street is Residential Class I Type - III.

What are the stamp duty rates for properties in Kulakarai Street?

The stamp duty rate for properties in Kulakarai Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kulakarai Street?

The Chengleput Joint II Sub Registrar Office covers Kulakarai Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.