Guideline Value for Kulakkarai Cross Street

Kulakkarai Cross Street guideline value

The current guideline value of Kulakkarai Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Cross Street has changed

The guideline value for Kulakkarai Cross Street has undergone significant changes over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. With the latest revision in 2024, the guideline value increased to Rs 2,200 per sq.ft, reflecting a change of +64% from the previous figure.

It is important to note that there are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only relevant revisions are from 2017 and 2024.

Guideline values in Madipakkam-1

In the Madipakkam-1 village, there are 1,823 streets under the Velacheri SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the current value of Kulakkarai Cross Street below the median.

• Kulakkarai 2nd Street: Rs 2,200 per sq.ft (2024)
• Kulakkarai 1st Street: Rs 2,200 per sq.ft (2024)
• Kulakkarai Street: Rs 2,200 per sq.ft (2024)
• Kuberan Street, Srinivasa Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar South 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar South 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these charges to 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.

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

Which Sub Registrar Office covers Kulakkarai Cross Street?

The Sub Registrar Office covering Kulakkarai Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in property transactions within Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duty are calculated appropriately.

When buying or selling property, the guideline value is used to assess the applicable charges, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kulakkarai Cross Street?

The current guideline value of Kulakkarai Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of +64%.

Are there any years without a guideline value for Kulakkarai Cross Street?

Yes, there are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for Kulakkarai Cross Street.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which indicates that Kulakkarai Cross Street's current guideline value is below this median.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.