Guideline Value for KULAKKARAI STREET OLD (WARD -18)

Kulakkarai Street Old (Ward -18) guideline value

The current guideline value of Kulakkarai Street Old (Ward -18) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kulakkarai Street Old (Ward -18) has changed

The guideline value for Kulakkarai Street Old has seen several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. In 2023, the value increased significantly to Rs 600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 660 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Ninna Karai

Ninna Karai has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, positioning Kulakkarai Street Old's 2024 figure below this median.

• Kulakkarai Street Old (Ward -15): Rs 660 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• K.S.Puram Pambakal Street (Ward -15): Rs 440 per sq.ft (2024)
• Krishtappa Street (Ward -17): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street Old (Ward -18)

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 and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakkarai Street Old (Ward -18)?

The Sub Registrar Office covering Kulakkarai Street Old (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must be aware of the guideline value applicable to their specific street. This value is updated periodically, reflecting changes in the real estate landscape, and it is essential for buyers and sellers to stay informed about these updates to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kulakkarai Street Old (Ward -18)?

The current guideline value of Kulakkarai Street Old (Ward -18) 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 several times, with the most recent increase from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. The value saw a decrease from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, followed by significant increases in subsequent years.

What is the land classification for Kulakkarai Street Old (Ward -18)?

The land classification for Kulakkarai Street Old (Ward -18) is Residential Class I Type - III, 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 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 59,400.

Where can I find the Sub Registrar Office for Kulakkarai Street Old (Ward -18)?

The Sub Registrar Office for Kulakkarai Street Old (Ward -18) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.