Guideline Value for Kulakarai 3rd Street

Kulakarai 3rd Street guideline value

The current guideline value of Kulakarai 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kulakarai 3rd Street has changed

Looking at the revisions over the years, the guideline value for Kulakarai 3rd Street has seen several changes. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally rose to Rs 3,300 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the 2012 and 2017 revisions, there was a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which aligns with the current guideline value of Kulakarai 3rd Street.

• Kulakarai 4th Street: Rs 3,300 per sq.ft (2024)
• Kulakarai Main Road: Rs 3,300 per sq.ft (2024)
• Kulakkarai 1st Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,300 per sq.ft (2024)
• K.R.S. Nagar: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Main Rd: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kulakarai 3rd Street?

The Sub Registrar Office that covers Kulakarai 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which a property can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is important to note that the stamp duty is charged based on the higher of the guideline value or the actual sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kulakarai 3rd Street?

The current guideline value of Kulakarai 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kulakarai 3rd Street?

The land classification for Kulakarai 3rd Street is Residential Class I Type - I.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Kulakarai 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,31,000.