Guideline Value for Kulakkarai 1st Street

Kulakkarai 1st Street guideline value

The current guideline value of Kulakkarai 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur Sub Registrar Office (SRO), and is classified as Residential Class I Type - II.

How the guideline value of Kulakkarai 1st Street has changed

The guideline value for Kulakkarai 1st Street has undergone several revisions over the years. In 2002, the value was Rs 454 per sq.ft, which increased to Rs 516 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007. The value then changed to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, and finally, the current value is Rs 3,900 per sq.ft as of 2024.

Between these revisions, notable changes include a 14% increase from 2002 to 2003, a 133% rise from 2003 to 2007, a 192% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. The change from 2023 to 2024 is an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 759%.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Kulakkarai 1st Street.

• Kulakkarai 1st Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,900 per sq.ft (2024)
• Kulakkarai Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Kuppusamy Street LAYOUT: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kulakkarai 1st Street?

The Sub Registrar Office that covers Kulakkarai 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the sale price, which means it is essential to understand the current guideline value before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value of Kulakkarai 1st Street?

The current guideline value of Kulakkarai 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 454 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 759% over the years.

What are the stamp duty rates for property in Kulakkarai 1st Street?

The stamp duty for property transactions in Kulakkarai 1st Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Kulakkarai 1st Street?

Kulakkarai 1st Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.