Guideline Value for Kulakkarai 2nd Street

Kulakkarai 2nd Street guideline value

The current guideline value of Kulakkarai 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kulakkarai 2nd Street has changed

The guideline value for Kulakkarai 2nd Street has undergone several revisions over the years. The register shows the following figures: Rs 142 per sq.ft in 2002, Rs 178 per sq.ft in 2003, Rs 600 per sq.ft in 2007, Rs 3,000 per sq.ft in 2012, Rs 2,010 per sq.ft in 2017, Rs 3,000 per sq.ft in 2023, and finally Rs 3,300 per sq.ft in 2024. From 2002 to 2024, the overall increase in guideline value is 2,224%.

Between the revisions, there were notable changes. The guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023, which is a 49% increase. The value then rose by 10% to Rs 3,300 per sq.ft in 2024. The earlier revision from 2012 to 2017 saw a decrease of 33%, while there was a significant increase of 400% from 2007 to 2012. The jump from Rs 178 per sq.ft in 2003 to Rs 600 per sq.ft in 2007 was 237%, and from Rs 142 per sq.ft in 2002 to Rs 178 per sq.ft in 2003, it was 25%. There are no figures available for any other years in the register for this street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the current value of Kulakkarai 2nd Street.

• Kulakkarai 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Kulakkarai 2nd Street?

The Sub Registrar Office covering Kulakkarai 2nd 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 critical factor in the registration process for property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, which protects the interests of the state and ensures that properties are not undervalued during registration.

Frequently asked questions

What is the current guideline value of Kulakkarai 2nd Street?

The current guideline value of Kulakkarai 2nd 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 significantly from Rs 142 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, an increase of 2,224% overall.

What was the guideline value in 2017?

The guideline value for Kulakkarai 2nd Street in 2017 was Rs 2,010 per sq.ft.

Where can I find the registration office for Kulakkarai 2nd Street?

The registration office for Kulakkarai 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kulakkarai 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000.