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 Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value of Kulakkarai Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. In 2023, the value increased to Rs 500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 550 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Ninna Karai

In Ninna Karai village, there are a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kulakkarai Street's 2024 figure below this median.

• Kulakkarai Street Old (Ward -18): Rs 660 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 660 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• K.S.Puram Pambakal Street (Ward -15): Rs 440 per sq.ft (2024)
• Kumaran Nagar: Rs 990 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. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering Kulakkarai Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is legally compliant and accurately recorded.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Ninna Karai and their guideline values?

Other streets in Ninna Karai include Kulakkarai Street Old (Ward -18) and Kulakkarai Street Old (Ward -15) at Rs 660 per sq.ft, and Kumaragurubarar Street and Kumaranar Street at Rs 1,321 per sq.ft.

What is the registration office for Kulakkarai Street (Ward -17)?

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

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.