Guideline Value for KULAKKARAI STREET (WARD -17)

Kulakkarai Street (Ward -17) guideline value

The current guideline value of Kulakkarai Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village, under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Street (Ward -17) has changed

The guideline value for Kulakkarai Street (Ward -17) has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 500 per sq.ft. Prior to that, the 2017 revision listed the value at Rs 335 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 500 per sq.ft, indicating a decrease of 33% from the 2017 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This shows a gradual adjustment in the value over the years, reflecting the changes in the real estate landscape of the area.

Guideline values in Kattankollatur

Kattankollatur village comprises 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, making the current value of Kulakkarai Street (Ward -17) below that median.

• Kulakkarai Street Old (Ward -18): Rs 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 440 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• K.S.Puram Pambakal Street (Ward -15): Rs 440 per sq.ft (2024)
• Krishtappa Street (Ward -17): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street (Ward -17)

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kulakkarai Street (Ward -17)?

The Sub Registrar Office that covers Kulakkarai Street (Ward -17) 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 Kattankollatur

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

When a property is registered, the guideline value is considered to ensure that the transaction reflects the prevailing rates in the area. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kulakkarai Street (Ward -17)?

The current guideline value of Kulakkarai Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being an increase from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

What is the land classification of Kulakkarai Street (Ward -17)?

Kulakkarai Street (Ward -17) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles the registration for Kulakkarai Street (Ward -17)?

The registration for Kulakkarai Street (Ward -17) is handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.