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 Sattamangalam 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 has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 1,100 per sq.ft, placing Kulakkarai Street Old's 2024 figure 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 rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 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 Sattamangalam

The guideline value plays a crucial role during the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the Registration Department.

When a property is sold, the buyer and seller must consider the guideline value alongside the sale price. The registration office will charge the stamp duty based on the higher of these two amounts, ensuring compliance with state regulations.

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 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

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

The land classification for Kulakkarai Street Old (Ward -15) is Residential Class II Type - II.

Where is the Sub Registrar Office for this area located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.