Guideline Value for Kulakarai Ist street

Kulakarai Ist street guideline value

The current guideline value of Kulakarai Ist street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village, under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of Kulakarai Ist street has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 469 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision also maintains this value at Rs 700 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figure for Kulakarai Ist street for the years 2002, 2003, and 2007.

Guideline values in Thirumangalam

In Thirumangalam village, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft, with a median value of Rs 605 per sq.ft. Kulakarai Ist street's 2024 guideline value is above this median.

• Kulakarai IInd Street: Rs 700 per sq.ft (2024)
• Kuravar Street: Rs 605 per sq.ft (2024)
• Kent Grdern: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Malai Matha Nagar: Rs 605 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Ist street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, charged at 7%, would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kulakarai Ist street?

The Sub Registrar Office covering Kulakarai Ist street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in a legal context. It is important for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kulakarai Ist street?

The current guideline value of Kulakarai Ist street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Kulakarai Ist street was Rs 700 per sq.ft in 2012, decreased to Rs 469 per sq.ft in 2017, and then increased back to Rs 700 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which Sub Registrar Office handles property registrations for Kulakarai Ist street?

The Sunguvarchattram Sub Registrar Office handles property registrations for Kulakarai Ist street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Kulakarai Ist street?

Kulakarai Ist street is classified as Residential Special Type - II, indicating its intended use for residential purposes.