Guideline Value for Kulakkarai 2nd Lane

Kulakkarai 2nd Lane guideline value

The current guideline value of Kulakkarai 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kulakkarai 2nd Lane has changed

The guideline value for Kulakkarai 2nd Lane has undergone several revisions over the years. In 2002, the value was Rs 310 per sq.ft, which increased to Rs 352 per sq.ft in 2003, marking a 14% increase. The value saw a significant rise to Rs 700 per sq.ft in 2007, reflecting a 99% change. This trend continued with the 2012 revision, where the value was Rs 3,500 per sq.ft, representing a 400% increase from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33% compared to 2012. The guideline value then rose to Rs 3,500 per sq.ft in 2023, with an increase of 49%. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,158%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Kulakkarai 2nd Lane.

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

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, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakkarai 2nd Lane?

The Sub Registrar Office covering Kulakkarai 2nd Lane 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as per government regulations.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the overall costs associated with the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Kulakkarai 2nd Lane?

The current guideline value for Kulakkarai 2nd Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 310 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1,158%.

What is the land classification for Kulakkarai 2nd Lane?

Kulakkarai 2nd Lane is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Kulakkarai 2nd Lane?

The Sub Registrar Office for Kulakkarai 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for a property in Kulakkarai 2nd Lane?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.