Guideline Value for Kulakkarai Lane

Kulakkarai Lane guideline value

The current guideline value of Kulakkarai Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kulakkarai Lane has changed

The guideline value for Kulakkarai 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. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +14%. The jump from 2003 to 2007 was +99%, and from 2007 to 2012, it decreased by -33%. The value increased significantly from 2012 to 2017 by +49%, and then rose again by +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1158%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with the 2024 guideline values 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 Lane.

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

Stamp duty and registration fee for property in Kulakkarai 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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakkarai Lane?

The Sub Registrar Office that covers Kulakkarai 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 further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kulakkarai Lane?

The current guideline value of Kulakkarai Lane 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 310 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a significant increase over the years.

What is the registration office for Kulakkarai Lane?

The registration office for Kulakkarai 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 property in Kulakkarai 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.

Where can I find more information about guideline values in Nanganallur?

More information about guideline values in Nanganallur can be found in the registration department's guideline value register (TNReginet) and through the Alandur SRO.