Guideline Value for KULAKKARAI STREET (CHEN)

Kulakkarai Street (Chen) guideline value

The current guideline value of Kulakkarai Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kulakkarai Street (Chen) has changed

The guideline value for Kulakkarai Street (Chen) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase from Rs 600 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 402 per sq.ft, indicating a significant rise of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register has no figures for Kulakkarai Street for the years 2002, 2003, and 2007. Therefore, the changes noted are based on the available revisions from 2012 onwards.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO with a 2024 guideline value range from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Kulakkarai Street's 2024 figure below this median.

• Kundanathan Nagar Extn-2 (Chen): Rs 880 per sq.ft (2024)
• Kunthanathar Nagar: Rs 880 per sq.ft (2024)
• Kozhi Pannai (Chen): Rs 880 per sq.ft (2024)
• Kottapuli Varadharajan Nagar: Rs 1,321 per sq.ft (2024)
• Kollamettu Street (Chen): Rs 660 per sq.ft (2024)
• Kollaimettu Colony (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kulakkarai Street (Chen)?

The Sub Registrar Office that covers Kulakkarai Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value plays a crucial role during the registration of property transactions in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kulakkarai Street (Chen)?

The current guideline value of Kulakkarai Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a +10% increase. It rose from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, a +49% increase.

What is the land classification for Kulakkarai Street (Chen)?

Kulakkarai Street (Chen) is classified as Residential Class I Type - III, indicating its use for residential purposes.

What are the stamp duty and registration fees for property in Kulakkarai Street (Chen)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges amount to Rs 59,400.

Which Sub Registrar Office covers Kulakkarai Street (Chen)?

The Chengleput Joint II Sub Registrar Office covers Kulakkarai Street (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.