Guideline Value for Kulakarai Street

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Chikkarayapuram village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has seen several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft. This figure decreased to Rs 938 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, which is a rise of 92%. The most recent revision in 2024 has brought the guideline value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 41%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is the same as the guideline value for Kulakarai Street.

• Krishna Nagar: Rs 1,980 per sq.ft (2024)
• Kunrathur Main Road: Rs 1,760 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Lakshmi Nagar/Vistharippu/Babu Garden: Rs 1,760 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,980 per sq.ft (2024)
• Leelavathi Nagar Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chikkarayapuram. It is used to determine the stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value can help buyers and sellers navigate the financial aspects of property transactions more effectively. It ensures that all parties are aware of the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,400 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024, with notable increases and decreases in between.

What is the land classification for Kulakarai Street?

Kulakarai Street is classified as Mixed Special Type - I according to the registration records.

What are the stamp duty and registration fees for a plot on Kulakarai Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,78,200 based on the current guideline value.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.