Guideline Value for Kulakarai 1st Cross Street

Kulakarai 1st Cross Street guideline value

The current guideline value of Kulakarai 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Kulakarai 1st Cross Street has changed

The guideline value for Kulakarai 1st Cross Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,474 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 2,420 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 revision represented a 49% increase from the 2017 figure, highlighting a substantial rise in the guideline value over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current value of Kulakarai 1st Cross Street.

• Kulakarai 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Krishnan Koil Street: Rs 2,200 per sq.ft (2024)
• Kula Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kulakarai 1st Cross Street?

The Sub Registrar Office that covers Kulakarai 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. This value serves as a benchmark for the financial aspects of the sale, ensuring that all parties are informed of the costs involved.

Frequently asked questions

What is the current guideline value of Kulakarai 1st Cross Street?

The current guideline value of Kulakarai 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Kulakarai 1st Cross Street?

Kulakarai 1st Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kulakarai 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,17,800.