Guideline Value for KULAKKARAI STREET OLD (WARD -15)

Kulakkarai Street Old (Ward -15) guideline value

The current guideline value of Kulakkarai Street Old (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kulakkarai Street Old (Ward -15) has changed

The guideline value for Kulakkarai Street Old (Ward -15) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 400 per sq.ft. In 2017, it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, by 2023, the value increased significantly to Rs 400 per sq.ft, and in the latest revision for 2024, it further increased to Rs 440 per sq.ft, reflecting a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Kulakkarai Street Old (Ward -15) has a guideline value below this median.

• Kulakkarai Street Old (Ward -18): Rs 550 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• K.S.Puram Pambakal Street (Ward -15): Rs 440 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Krishtappa Street (Ward -17): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street Old (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Kulakkarai Street Old (Ward -15)?

The Sub Registrar Office that covers Kulakkarai Street Old (Ward -15) 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 Panangottur

The guideline value is a crucial factor during the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the appropriate fees that need to be paid to the government. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kulakkarai Street Old (Ward -15)?

The current guideline value of Kulakkarai Street Old (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024, reflecting a 10% increase. The value also saw significant changes from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification of Kulakkarai Street Old (Ward -15)?

The land classification for Kulakkarai Street Old (Ward -15) is Residential Class II Type - II. This classification indicates the type of residential development permitted in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 and a registration fee of Rs 8,800.

Where is the Sub Registrar Office for Kulakkarai Street Old (Ward -15)?

The Sub Registrar Office for Kulakkarai Street Old (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.