Guideline Value for Kulakarai street

Kulakarai street guideline value

The current guideline value of Kulakarai street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kulakarai street has changed

The guideline value for Kulakarai street has seen several revisions over the years. The earliest recorded value is from 2007, when it was Rs 300 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, which was a decline of 33%. The value continued to rise, reaching Rs 2,000 per sq.ft in the 2023 revision, and then increased again to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for Kulakarai street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Kulakarai street.

• K.S.nagar: Rs 2,200 per sq.ft (2024)
• Kundrathoor road: Rs 2,740 per sq.ft (2024)
• Kundrathoor Road 24 To 130: Rs 2,740 per sq.ft (2024)
• Kundrathoor Road Door No 1st To 19: Rs 2,740 per sq.ft (2024)
• Kothandarasamy street: Rs 3,250 per sq.ft (2024)
• Korre medu: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. It is important to 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 street?

The Sub Registrar Office that covers Kulakarai street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures transparency and compliance with local laws.

Frequently asked questions

What is the current guideline value of Kulakarai street?

The current guideline value of Kulakarai street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in other years.

What is the land classification of Kulakarai street?

Kulakarai street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

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 property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.