Guideline Value for Kulakarai 1st Street

Kulakarai 1st Street guideline value

The current guideline value of Kulakarai 1st Street is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Kulakarai 1st Street has changed

The guideline value of Kulakarai 1st Street has undergone several revisions over the years. In 2003, the guideline value was Rs 86 per sq.ft, which saw a significant increase to Rs 1,273 per sq.ft in 2017, marking a change of +1380%. The next revision in 2023 raised the value to Rs 1,900 per sq.ft, an increase of +49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, reflecting a +10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by +2330%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value of Kulakarai 1st Street.

• Kulakarai 2nd Street: Rs 2,090 per sq.ft (2024)
• Kulakarai 3rd Street: Rs 2,090 per sq.ft (2024)
• Krishna Nagar: Rs 2,090 per sq.ft (2024)
• Kendiraya Vihar: Rs 4,290 per sq.ft (2024)
• Kaveri Nagar: Rs 1,100 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,090 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. 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 Street?

The Sub Registrar Office that covers Kulakarai 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Noombal. It is used as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration process will require adherence to the guideline value.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. This value is also essential for calculating the applicable stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of Kulakarai 1st Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 86 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, representing an overall increase of +2330%.

Which Sub Registrar Office covers Kulakarai 1st Street?

The Kunrathur Sub Registrar Office covers Kulakarai 1st Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 20,90,000, the total stamp duty and registration fees would be Rs 1,88,100.

How does the guideline value affect property transactions?

The guideline value serves as a minimum benchmark for property registration and is essential for calculating stamp duty and registration fees. It ensures that transactions are recorded at a fair value, contributing to transparency in real estate dealings.