Guideline Value for Kulakarai Street

Kulakarai Street guideline value

The current guideline value of Kulakarai Street is Rs 155 per sq.ft, effective from 1 July 2024. This street is located in Vayaloor village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kulakarai Street has changed

Over the years, the guideline value of Kulakarai Street has seen several revisions. The register indicates that in 2012, the guideline value was Rs 150 per sq.ft. This figure decreased to Rs 100 per sq.ft in 2017, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly by 50%, reaching Rs 150 per sq.ft. The most recent revision in 2024 has set the value at Rs 155 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Kulakarai Street. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 105 to Rs 155 per sq.ft. The median guideline value in the village is Rs 105 per sq.ft, and Kulakarai Street's 2024 figure is above this median.

• Kolla Colony: Rs 105 per sq.ft (2024)
• Mettu Colony: Rs 105 per sq.ft (2024)
• GP Nagar: Rs 155 per sq.ft (2024)
• Palla Colony: Rs 105 per sq.ft (2024)
• Perumal Kovil Street: Rs 126 per sq.ft (2024)
• School Street: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakarai Street

For a 1,000 sq.ft plot at the current rate of Rs 155 per sq.ft, the guideline value amounts to Rs 1,55,000. The stamp duty at 7% would be Rs 10,850, and the registration fee at 2% would be Rs 3,100, bringing the total to Rs 13,950. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakarai Street?

The Sub Registrar Office that covers Kulakarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Vayaloor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kulakarai Street?

The current guideline value of Kulakarai Street is Rs 155 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then increased to Rs 150 per sq.ft in 2023, and finally to Rs 155 per sq.ft in 2024.

What is the land classification for Kulakarai Street?

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

Where can I find the Sub Registrar Office for Kulakarai Street?

The Sub Registrar Office for Kulakarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kulakarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 155 per sq.ft, the total stamp duty would be Rs 10,850.