Guideline Value for Kula Street

Kula Street guideline value

The current guideline value of Kula Street in Kilkattalai village is Rs 1,080 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class IV Type - III.

How the guideline value of Kula Street has changed

The guideline value of Kula Street has undergone several revisions over the years. In 2003, the value was set at Rs 132 per sq.ft, which saw a significant increase to Rs 300 per sq.ft in 2007. The value then surged by 233% to reach Rs 1,000 per sq.ft in 2012, but it dropped by 33% to Rs 670 per sq.ft in 2017. Following this, the value increased by 49% to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,080 per sq.ft from the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that the register has no figure for Kula Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 718%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,530 per sq.ft, placing Kula Street's current value below this median.

• Kumaran Colony: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar: Rs 2,530 per sq.ft (2024)
• Kumaran Nagar Saroja Ammal Street: Rs 2,530 per sq.ft (2024)
• Krishna Nagar: Rs 3,080 per sq.ft (2024)
• Krishna Colony: Rs 1,080 per sq.ft (2024)
• Lake view Street (Erikkarai Street): Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kula Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,080 per sq.ft, the total guideline value would be Rs 10,80,000. The stamp duty at 7% would be Rs 75,600, and the registration fee at 2% would be Rs 21,600, bringing the total fees to Rs 97,200. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kula Street?

The Sub Registrar Office that covers Kula Street 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 Kilkattalai

The guideline value is a crucial factor in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kula Street?

The current guideline value of Kula Street is Rs 1,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 132 per sq.ft in 2003 to Rs 1,080 per sq.ft in 2024, reflecting an overall increase of 718% over this period.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, which is higher than Kula Street's current value of Rs 1,080 per sq.ft.

What are the stamp duty rates for properties in Kula Street?

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

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

The Sub Registrar Office for Kula Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by visiting our website.