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 Sattamangalam village under the Chengleput Joint II SRO and is classified as 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 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. This was followed by a significant increase to Rs 500 per sq.ft in the 2023 revision, and then a further increase to Rs 550 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. Notably, the register has no figures for this street from the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Kulakkarai Street's 2024 figure 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 guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to 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 or the sale price. You can also use the stamp duty and registration fee calculator for more details.

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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Sattamangalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a buyer purchases a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both the state and local authorities receive the appropriate revenue from property transactions.

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 Sattamangalam with their guideline values?

Other streets in Sattamangalam include Kulakkarai Street Old (Ward -18) at Rs 550 per sq.ft, Kulakkarai Street Old (Ward -15) at Rs 440 per sq.ft, and Kumaragurubarar Street (Ward -4) and Kumaranar Street (Ward -5) both at Rs 1,320 per sq.ft among others.

What fees are associated with property transactions in Kulakkarai Street?

When transacting property in Kulakkarai Street, buyers should be aware of the stamp duty at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kulakkarai Street?

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