Guideline Value for KULAKARAI STREET

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village, under the Pallavaram SRO, and falls under the Residential Class I Type - I 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 the 2012 revision, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. This was a significant decline of 33%. However, from 2017 to 2023, the value increased by 24% to reach Rs 1,500 per sq.ft. The latest revision in 2024 has seen a further increase of 32%, bringing the value to Rs 1,980 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kulakarai Street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the guideline value of Kulakarai Street.

• Kothandaramar Koil Street: Rs 1,980 per sq.ft (2024)
• L.S.S. Garden: Rs 1,980 per sq.ft (2024)
• Kamaraj Street: Rs 1,980 per sq.ft (2024)
• Kalainger Street: Rs 2,530 per sq.ft (2024)
• Kakkanji Street: Rs 1,100 per sq.ft (2024)
• J P Green Garden: Rs 2,530 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvancheri. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees. Buyers and sellers must consider this value when negotiating the sale price of a property.

When registering a property, the guideline value serves as a benchmark. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What are the other streets in Thiruvancheri with the same guideline value?

Other streets in Thiruvancheri with the same guideline value of Rs 1,980 per sq.ft include Kothandaramar Koil Street, L.S.S. Garden, and Kamaraj Street.

What are the stamp duty and registration fees for properties on Kulakarai Street?

For a 1,000 sq.ft property on Kulakarai Street, the total guideline value would be Rs 19,80,000. The stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registration for Kulakarai Street?

The Pallavaram Sub Registrar Office handles property registration for Kulakarai Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.