Guideline Value for KULAKKARAI CROSS STREET

Kulakkarai Cross Street guideline value

The current guideline value of Kulakkarai Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kulakkarai Cross Street has changed

The guideline value for Kulakkarai Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,700 per sq.ft. Prior to that, in 2017, the value was Rs 1,139 per sq.ft, marking a significant increase of 49% by 2023. The 2012 revision also recorded a value of Rs 1,700 per sq.ft, but there was a decrease of 33% to reach the 2017 figure.

It is important to note that there are no recorded figures for Kulakkarai Cross Street in the revisions of 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, and Kulakkarai Cross Street's 2024 figure is below this median.

• Kulakkarai Street: Rs 1,870 per sq.ft (2024)
• Kulasekara Alwar Street: Rs 2,200 per sq.ft (2024)
• Krishnaveni Avenue: Rs 2,200 per sq.ft (2024)
• Krishnaveni Ammal Road: Rs 2,200 per sq.ft (2024)
• Kurudar Palli Salai: Rs 1,540 per sq.ft (2024)
• Kousalya Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. Please note that the 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 Cross Street?

The Sub Registrar Office that covers Kulakkarai Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

When buying or selling property in Medavakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value is assessed by the local authorities and is updated periodically. Buyers and sellers must ensure that the transaction is registered at or above this value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of Kulakkarai Cross Street?

The current guideline value of Kulakkarai Cross Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024. There was a significant increase of 49% from 2017 to 2023.

What are the other streets with their guideline values in Medavakkam?

Other streets in Medavakkam include Kulakkarai Street at Rs 1,870 per sq.ft, Kulasekara Alwar Street, Krishnaveni Avenue, Krishnaveni Ammal Road, and Kousalya Nagar Main Road, all at Rs 2,200 per sq.ft, and Kurudar Palli Salai at Rs 1,540 per sq.ft.

What is the stamp duty for a property in Kulakkarai Cross Street?

The stamp duty for a property in Kulakkarai Cross Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,30,900.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Chennai South Joint I Sub Registrar Office located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. More details can be found online.