Guideline Value for KUVALAI MALAI STREET

Kuvalai Malai Street guideline value

The current guideline value of Kuvalai Malai Street is Rs 626 per sq.ft, effective from 1 July 2024. This street is located in Kakkalur village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Class II Type - III.

How the guideline value of Kuvalai Malai Street has changed

Over the years, the guideline value for Kuvalai Malai Street has seen several revisions. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 625 per sq.ft in 2012. However, it then dropped to Rs 419 per sq.ft in 2017. The 2023 revision maintained the value at Rs 626 per sq.ft, which remains unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Comparing the 2012 revision to the 2017 revision, there was a decrease of 33%. The most notable change occurred between 2007 and 2012, where the value surged by 525%. Overall, from 2007 to 2024, the guideline value has increased by 526%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 626 per sq.ft, which matches the current value for Kuvalai Malai Street.

• Kuruni Poo Street: Rs 626 per sq.ft (2024)
• Kungumapoo Steet: Rs 626 per sq.ft (2024)
• Kundumalli Street: Rs 626 per sq.ft (2024)
• Kulmahal Street: Rs 626 per sq.ft (2024)
• Maaveeran Durai Samy Nagar: Rs 626 per sq.ft (2024)
• Kowsalya Nagar: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Kuvalai Malai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, while the registration fee at 2% would be Rs 12,520. Together, the total cost for stamp duty and registration fee would be Rs 56,340. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuvalai Malai Street?

The Sub Registrar Office that covers Kuvalai Malai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kakkalur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price must be equal to or greater than the guideline value to ensure compliance with local regulations. This means that even if the sale price is lower than the guideline value, the higher value will be used for calculating the associated fees.

Frequently asked questions

What is the current guideline value for Kuvalai Malai Street?

The current guideline value for Kuvalai Malai Street is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase from Rs 100 per sq.ft in 2007 to Rs 626 per sq.ft in 2024, marking an overall increase of 526%.

What is the registration office for Kuvalai Malai Street?

The registration office for Kuvalai Malai Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty rates for property in Kakkalur?

The stamp duty for property transactions in Kakkalur is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

For more information regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.