Guideline Value for KULAKKARAI 2ND STREET

Kulakkarai 2nd Street guideline value

The current guideline value of Kulakkarai 2nd Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Kulakkarai 2nd Street has changed

The guideline value for Kulakkarai 2nd Street has seen several revisions over the years. In 2003, the value was set at Rs 550 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a 27% rise. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, reflecting a significant increase of 329%. The 2023 revision maintained this figure at Rs 3,000 per sq.ft, before the latest revision in 2024 raised it to Rs 3,200 per sq.ft, a change of 7%.

It is important to note that there are no figures available for the revisions in 2002 and 2017 for Kulakkarai 2nd Street. Overall, from 2003 to 2024, the guideline value has increased by 482%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning Kulakkarai 2nd Street above this median.

• Kulakkarai 1st Street: Rs 3,200 per sq.ft (2024)
• Kulakkarai Road: Rs 3,200 per sq.ft (2024)
• Kulakkarai Road Hut Area: Rs 3,200 per sq.ft (2024)
• Kulakkarai Salai (New): Rs 3,200 per sq.ft (2024)
• Krishna Pillai Street: Rs 4,300 per sq.ft (2024)
• Krishnan Koil Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. 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 Kulakkarai 2nd Street?

The Sub Registrar Office that covers Kulakkarai 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kulakkarai 2nd Street?

The current guideline value of Kulakkarai 2nd Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2003 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 482% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which Sub Registrar Office handles registrations for Kulakkarai 2nd Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Kulakkarai 2nd Street.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Kulakkarai 2nd Street's value of Rs 3,200 per sq.ft being above this median.