Guideline Value for KULAKARAISTREET (OR) TANK RAOD

Kulakaraistreet (Or) Tank Raod guideline value

The current guideline value of Kulakaraistreet (Or) Tank Raod is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kulakaraistreet (Or) Tank Raod has changed

The guideline value for Kulakaraistreet (Or) Tank Raod has undergone several revisions over the years. In 2007, the guideline value was Rs 950 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 111%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then saw a substantial increase to Rs 2,000 per sq.ft in 2023, a rise of 49%, and has now reached Rs 2,200 per sq.ft in the 2024 revision, an increase of 10%.

The revisions for the years 2002 and 2003 have no figures available for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 132%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which indicates that Kulakaraistreet (Or) Tank Raod's 2024 figure is below that median.

• Kumaraswamy Nagar: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar 1st Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar Cross: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakaraistreet (Or) Tank Raod

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakaraistreet (Or) Tank Raod?

The Sub Registrar Office that covers Kulakaraistreet (Or) Tank Raod is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a value that reflects the official rates set by the government, thus facilitating a transparent and fair registration process.

Frequently asked questions

What is the current guideline value of Kulakaraistreet (Or) Tank Raod?

The current guideline value of Kulakaraistreet (Or) Tank Raod is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 950 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 132% over the years.

What are the guideline values for other streets in Villivakkam?

Other streets in Villivakkam have varying guideline values, with some streets like Kumaraswamy Nagar listed at Rs 5,500 per sq.ft in 2024, which is significantly higher than Kulakaraistreet (Or) Tank Raod's value.

What fees are associated with buying property in Kulakaraistreet (Or) Tank Raod?

When buying property in Kulakaraistreet (Or) Tank Raod, the stamp duty is 7% of the guideline value, and the registration fee is 2%, which are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kulakaraistreet (Or) Tank Raod located?

The Sub Registrar Office for Kulakaraistreet (Or) Tank Raod is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.