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 Thailavaram village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Street (Ward-21) has changed

The guideline value for Kulakkarai Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase of 10% from Rs 600 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 402 per sq.ft, indicating a significant increase of 49% over the six years leading up to 2023. The 2012 revision also had a value of Rs 600 per sq.ft, showing a decrease of 33% from the 2017 figure.

There are no recorded guideline values for Kulakkarai Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting the changes in the local real estate landscape.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 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 881 per sq.ft (2024)
• Kumaran 2nd Street (Ward-20): Rs 881 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, making the total charges Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately according to government regulations.

When a property is sold, the guideline value helps in assessing the official value of the property, which is used for taxation purposes. Buyers and sellers must be aware of the guideline value to understand the financial implications of their transactions.

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 2023 to Rs 660 per sq.ft in 2024, an increase of 10%. From 2017 to 2023, it rose from Rs 402 per sq.ft to Rs 600 per sq.ft, a 49% increase.

What is the land classification of Kulakkarai Street?

Kulakkarai Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For a property valued at Rs 6,60,000, the total charges would be Rs 59,400.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.