Guideline Value for Kulakarai 2nd Cross Street

Kulakarai 2nd Cross Street guideline value

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

How the guideline value of Kulakarai 2nd Cross Street has changed

The guideline value for Kulakarai 2nd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, up from Rs 2,200 per sq.ft in 2023, marking a 10% increase. Prior to that, in 2017, the guideline value was Rs 1,474 per sq.ft, reflecting a substantial increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, there has been a significant increase of 64% in the guideline value. This demonstrates a steady rise in the valuation of properties on Kulakarai 2nd Cross Street over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the guideline value of Kulakarai 2nd Cross Street.

• Kulakarai 1st 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value is Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakarai 2nd Cross Street?

The Sub Registrar Office that covers Kulakarai 2nd 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is in accordance with the prevailing rates in the area. Buyers and sellers must be aware of these values to accurately calculate the costs associated with their property transactions.

Frequently asked questions

What is the current guideline value of Kulakarai 2nd Cross Street?

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

How much has the guideline value changed over the years?

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, reflecting an overall increase of 64%.

What is the land classification for Kulakarai 2nd Cross Street?

Kulakarai 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What is the stamp duty rate for properties in Kulakarai 2nd Cross Street?

The stamp duty for properties in Kulakarai 2nd Cross Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kulakarai 2nd Cross Street?

The Sub Registrar Office for Kulakarai 2nd Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the relevant link.