Guideline Value for Kulakkarai 1st Street

Kulakkarai 1st Street guideline value

The current guideline value of Kulakkarai 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of Kulakkarai 1st Street has changed

The guideline value for Kulakkarai 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Kulakkarai 1st Street.

• Kulakkarai 2nd Street: Rs 3,300 per sq.ft (2024)
• Kulakarai Main Road: Rs 3,300 per sq.ft (2024)
• Kulakarai 4th Street: Rs 3,300 per sq.ft (2024)
• Kulakarai 3rd Street: Rs 3,300 per sq.ft (2024)
• K.R.S. Nagar: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Main Rd: 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kulakkarai 1st Street?

The Sub Registrar Office covering Kulakkarai 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When engaging in property transactions, it is essential to be aware of the guideline value to avoid any discrepancies during registration. This value helps in assessing the official worth of the property, ensuring that all parties are aligned on the financial aspects of the deal.

Frequently asked questions

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

The current guideline value of Kulakkarai 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012, where it was Rs 3,000 per sq.ft.

What is the land classification for Kulakkarai 1st Street?

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

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kulakkarai 1st Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total costs would include a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.