Guideline Value for KULAKKARAI STREET

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri_2 village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Street has changed

Over the years, the guideline value for Kulakkarai Street has undergone several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 500 per sq.ft, and in the 2024 revision, it increased to Rs 700 per sq.ft, marking a 40% rise.

This change reflects the current guideline value of Rs 700 per sq.ft, which is equal to the median value for the 75 streets in Ponneri_2 under the Ponneri SRO. The 2024 figure represents a significant adjustment from the previous year’s value.

Guideline values in Ponneri_2

Ponneri_2 village has a range of guideline values for its streets, with values ranging from Rs 700 to Rs 1,300 per sq.ft. The median value is Rs 700 per sq.ft, which is where Kulakkarai Street currently stands.

• Krishnaswami Mudali Street: Rs 1,200 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Lucky Star City: Rs 700 per sq.ft (2024)
• Madhavan Road / Nagar: Rs 702 per sq.ft (2024)
• Madhina Palli Vasal: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value plays a crucial role during the registration of property transactions in Ponneri_2. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees. It is important for buyers and sellers to be aware of these values to avoid any discrepancies 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 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value for Kulakkarai Street increased from Rs 500 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, which is a 40% increase.

What is the land classification of Kulakkarai Street?

Kulakkarai Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Kulakkarai Street is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for property in Kulakkarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, leading to a stamp duty of Rs 49,000.