Guideline Value for KULAKKARAI STREET

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street, located in Pallikaranai village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kulakkarai Street has changed

In the 2012 revision, the guideline value for Kulakkarai Street was set at Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision. However, with the latest 2024 revision, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 1,650 per sq.ft, which means Kulakkarai Street's 2024 figure is below this median.

• Kuberan Nagar And Extn.: Rs 1,980 per sq.ft (2024)
• Krishna Nagar Second Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Gandhi Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Pallikaranai, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence negotiations and the final sale price. The registration process requires that the property is registered at or above the guideline value, which helps to maintain transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has remained at Rs 1,200 per sq.ft until the 2024 revision, where it increased to Rs 1,320 per sq.ft. This reflects a 10% increase from the previous year.

What is the land classification of Kulakkarai Street?

Kulakkarai Street is classified as Residential Class IV Type - II, which indicates its use for residential purposes.

What are the stamp duty and registration fees for properties in Kulakkarai Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value.

Which Sub Registrar Office handles registrations for Kulakkarai Street?

The Chennai South Joint I Sub Registrar Office is responsible for registrations in Kulakkarai Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.