Guideline Value for KULAKKARAI STREET

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has seen significant changes over the years. In the 2003 revision, the value was Rs 1,860 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007. The value then rose dramatically by 225% to Rs 6,500 per sq.ft in 2012. However, there was a decrease of 33% to Rs 4,355 per sq.ft in 2017. The 2023 revision marked a considerable increase of 49%, bringing the value to Rs 6,500 per sq.ft. Finally, the current 2024 revision has further increased the guideline value to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there is no figure available for Kulakkarai Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 282%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Kulakkarai Street's 2024 figure above this median.

• Krishnapuram: Rs 5,300 per sq.ft (2024)
• Krishnan Colony: Rs 5,300 per sq.ft (2024)
• Ko. Su. Mani Road: Rs 5,000 per sq.ft (2024)
• Kirupha Sankari Street: Rs 6,300 per sq.ft (2024)
• Lakshmi Narayanan Street: Rs 5,800 per sq.ft (2024)
• Khan Street: Rs 6,300 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, leading to a combined total of Rs 6,39,000. Please 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?

The Sub Registrar Office that covers Kulakkarai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used for calculating the applicable duties.

When engaging in property transactions, it is essential for buyers and sellers to understand the guideline value as it directly impacts the financial aspects of the deal. Ensuring that the correct guideline value is referenced can help avoid potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,860 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 282%.

What is the land classification for Kulakkarai Street?

Kulakkarai Street is classified as Residential Special Type - II under the Kodambakkam SRO.

Where can I find the Sub Registrar Office for Kulakkarai Street?

The Sub Registrar Office for Kulakkarai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Kulakkarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000.