Guideline Value for KULAKKARAI ROAD

Kulakkarai Road guideline value

The current guideline value of Kulakkarai Road is Rs 3,200 per sq.ft, effective from 1 July 2024. This road is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Kulakkarai Road has changed

The guideline value for Kulakkarai Road has seen several revisions over the years. Starting from Rs 501 per sq.ft in 2002, it increased to Rs 550 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 700 per sq.ft, reflecting a 27% increase. The most significant change occurred between 2007 and 2012, where it surged to Rs 3,000 per sq.ft, a staggering 329% increase. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023.

In 2023, the guideline value was revised to Rs 3,200 per sq.ft, representing a 7% increase. Overall, from 2002 to 2024, the guideline value has increased by 539%. The register has no figure for this street in 2017.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Kulakkarai Road's 2024 figure above this median.

• Kulakkarai Road Hut Area: Rs 3,200 per sq.ft (2024)
• Kulakkarai Salai (New): Rs 3,200 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,200 per sq.ft (2024)
• Kulakkarai 1st Street: 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 Road

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

Which Sub Registrar Office covers Kulakkarai Road?

The Sub Registrar Office that covers Kulakkarai Road 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 of property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal property transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai Road?

The current guideline value of Kulakkarai Road 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 significantly from Rs 501 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, with various revisions over the years reflecting different percentage increases.

What is the land classification for Kulakkarai Road?

Kulakkarai Road is classified as Residential Class III Type - I under the Purasaivakkam SRO.

Where can I find the Sub Registrar Office for Kulakkarai Road?

The Sub Registrar Office for Kulakkarai Road is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam registration zone.

How is the stamp duty calculated for properties on Kulakkarai Road?

Stamp duty is calculated on the higher of the guideline value or the sale price. For example, for a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at a rate of 7%.