Guideline Value for Kulakarai Main Road

Kulakarai Main Road guideline value

The current guideline value of Kulakarai Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Kulakarai Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% increase. However, this value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, the guideline values range from Rs 880 to Rs 8,250 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value of Kulakarai Main Road matches this median figure.

• Kulakarai 4th Street: Rs 3,300 per sq.ft (2024)
• Kulakarai 3rd Street: 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 Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakarai Main Road?

The Sub Registrar Office that covers Kulakarai Main Road 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 crucial during property transactions in Tambaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a reference point for the registration process. It ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the local market.

Frequently asked questions

What is the current guideline value of Kulakarai Main Road?

The current guideline value of Kulakarai Main Road 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Kulakarai Main Road?

The land classification for Kulakarai Main Road is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Kulakarai Main Road?

The Sub Registrar Office for Kulakarai Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kulakarai Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.