Guideline Value for Kulakarai Street

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Kulakarai Street has changed

The guideline value for Kulakarai Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 900 per sq.ft. The most recent revision in 2024 has seen another increase of 10%, bringing the current guideline value to Rs 990 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Kulakarai Street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value is Rs 1,215 per sq.ft, which means that Kulakarai Street's 2024 figure is below that median.

• Krishnavijayam Nagar: Rs 990 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• K.K Nagar: Rs 990 per sq.ft (2024)
• Loganathan Nagar: Rs 1,100 per sq.ft (2024)
• Karumariamman Nagar: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property in Mannivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property in the eyes of the law. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Kulakarai Street?

Kulakarai Street is classified as Residential Special Type - II.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, which is higher than the current guideline value of Kulakarai Street.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.