Guideline Value for KULATHU MEDU

Kulathu Medu guideline value

The current guideline value of Kulathu Medu is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kulathu Medu has changed

The guideline value for Kulathu Medu has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded to Rs 2,000 per sq.ft in 2023, and then increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kulathu Medu's 2024 figure below this median.

• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kumaran Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy Chetty Street: Rs 3,300 per sq.ft (2024)
• Kumaraswamy Street: Rs 3,300 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kayalar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulathu Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulathu Medu?

The Sub Registrar Office that covers Kulathu Medu is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is established by the Registration Department and is updated periodically to reflect changes in the market.

Frequently asked questions

What is the current guideline value of Kulathu Medu?

The current guideline value of Kulathu Medu is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kulathu Medu?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Kulathu Medu?

Kulathu Medu is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected.