Guideline Value for KULALI AMMAN STREET

Kulali Amman Street guideline value

The current guideline value of Kulali Amman Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Kulali Amman Street has changed

The guideline value for Kulali Amman Street has undergone several revisions over the years. In 2002, the value was Rs 97 per sq.ft, which increased to Rs 108 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 400 per sq.ft in 2007, and then it further increased to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft. The changes between these revisions include an increase of 10% from 2023 to 2024, a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, a substantial increase of 275% from 2007 to 2012, and a 270% increase from 2003 to 2007. The overall increase from 2002 to 2024 is 1,601%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Kulali Amman Street's current value below the median.

• Kulakarai Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Periyar Salai: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 5th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kulali Amman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for stamp duty and registration fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulali Amman Street?

The Sub Registrar Office that covers Kulali Amman 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 Manapakkam

The guideline value is a crucial factor when buying or selling property in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, which are mandatory for property transactions.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties. Therefore, it is essential for both parties involved in the transaction to understand the guideline value to ensure compliance with legal requirements and to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Kulali Amman Street?

The current guideline value of Kulali Amman Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 97 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,601% over the years.

What is the land classification for Kulali Amman Street?

The land classification for Kulali Amman Street is Residential Class IV Type - III.

What are the registration fees for a property in Kulali Amman Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office located for Kulali Amman Street?

The Sub Registrar Office for Kulali Amman Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.