Guideline Value for KULAKKARAI STREET

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 111 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2007, marking a 125% rise. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 900% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from the previous year. The most recent revision in 2024 raised the value to Rs 2,800 per sq.ft, which is a 12% increase from 2023.

The register does not have a figure for Kulakkarai Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 2423%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Kulakkarai Street's 2024 figure below this median.

• Kumara Guru Avenue: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 3rd STREET: Rs 2,800 per sq.ft (2024)
• KULAKARAI 3rd STREET: Rs 2,200 per sq.ft (2024)
• KUMARAGURU AVENUE 4th STREET: Rs 2,800 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 precise calculations.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical component during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on a standard value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency and prevents undervaluation 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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 111 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value for streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is higher than the current value of Kulakkarai Street.

What is the stamp duty rate for properties in Kulakkarai Street?

The stamp duty rate for properties in Kulakkarai Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.