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 550 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 - I.

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 2012, the guideline value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, marking a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Kulakkarai Street Old's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers 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 additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

The land classification for Kulakkarai Street Old (Ward -18) is Residential Class II Type - I.

Where can I find other streets in Panangottur and their guideline values?

Other streets in Panangottur can be found in the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. Kulakkarai Street Old's value is below the median of Rs 990 per sq.ft.

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

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 49,500 in fees.