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 Panangottur village under the Chengleput Joint II SRO, and it falls under the Residential Class II Type - I land classification.

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. In the 2012 revision, the value was set at Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 500 per sq.ft in the 2023 revision, and then rose by 10% to Rs 550 per sq.ft in the 2024 revision. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions highlight a fluctuation in the guideline values, particularly the notable increase from 2017 to 2023, and the subsequent rise to the current rate.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Kulakkarai Street (Ward -17) below this median at Rs 550 per sq.ft.

• 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 guideline value of Rs 550 per sq.ft, the total guideline value would amount 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, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately calculate the financial implications of their property transactions. It is advisable to consult the latest guideline values before proceeding with any 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 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 is the land classification for Kulakkarai Street (Ward -17)?

Kulakkarai Street (Ward -17) is classified under Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Kulakkarai Street (Ward -17)?

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

How do I calculate stamp duty and registration fees for properties in Kulakkarai Street (Ward -17)?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a total guideline value of Rs 5,50,000, with applicable fees totaling Rs 49,500.