Guideline Value for KULAKKARAI STREET (WARD-21)

Kulakkarai Street (Ward-21) guideline value

The current guideline value of Kulakkarai Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri 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-21) has changed

Over the years, the guideline value of Kulakkarai Street has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Kulakkarai Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Kulakkarai Street's 2024 figure below this median.

• Kumaran 1st Street (Ward-20): Rs 880 per sq.ft (2024)
• Kumaran 2nd Street (Ward-20): Rs 880 per sq.ft (2024)
• Konathi Selliamman Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi 2nd Cross Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi 1st Cross Street (Ward-21): Rs 660 per sq.ft (2024)
• Lancor Uds: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street (Ward-21)

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, bringing the total fees to 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kulakkarai Street (Ward-21)?

The Sub Registrar Office that covers Kulakkarai Street (Ward-21) 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 Potheri

The guideline value is a critical factor during the registration of property transactions in Potheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kulakkarai Street (Ward-21)?

The current guideline value of Kulakkarai Street (Ward-21) 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 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Kulakkarai Street?

The land classification for Kulakkarai Street (Ward-21) is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kulakkarai Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Kulakkarai Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 660 per sq.ft, the total guideline value is Rs 6,60,000, leading to a stamp duty of Rs 46,200.