Guideline Value for KULAKKARAI SALAI (NEW)

Kulakkarai Salai (New) guideline value

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

How the guideline value of Kulakkarai Salai (New) has changed

Over the years, the guideline value of Kulakkarai Salai (New) has seen significant changes. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The most recent 2024 revision has raised the value to Rs 3,200 per sq.ft, marking a 7% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. The overall increase from the 2007 revision to the 2024 revision is a substantial 357%.

Guideline values in Perambur

In Perambur, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. The guideline value of Kulakkarai Salai (New) is above this median, reflecting its unique position within the area.

• Kulakkarai Road Hut Area: Rs 3,200 per sq.ft (2024)
• Kulakkarai Road: 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 Salai (New)

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, while the registration fee at 2% would be Rs 64,000, bringing the total cost for these fees to Rs 2,88,000. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kulakkarai Salai (New)?

The Sub Registrar Office that covers Kulakkarai Salai (New) 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 plays a crucial role during the registration process of property transactions in Perambur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value is referenced to determine the applicable fees. It is essential for buyers and sellers to be aware of these values to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai Salai (New)?

The current guideline value of Kulakkarai Salai (New) 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 risen from Rs 700 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 357% over the years.

What is the land classification for Kulakkarai Salai (New)?

Kulakkarai Salai (New) is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for Kulakkarai Salai (New)?

The Purasaivakkam Sub Registrar Office handles registrations for Kulakkarai Salai (New), located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.