Guideline Value for Kulakkarai Road

Kulakkarai Road guideline value

The current guideline value for Kulakkarai Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This road is located in Kottur village under the Adayar SRO, classified as Residential Class IV Type - II.

How the guideline value of Kulakkarai Road has changed

The guideline value for Kulakkarai Road has seen several revisions over the years. In 2002, the value was Rs 923 per sq.ft, which increased to Rs 995 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,200 per sq.ft in 2007, marking an increase of 121%. The value then jumped to Rs 4,500 per sq.ft in 2012, reflecting a 105% increase. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it increased by 11% to reach Rs 5,000 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 442%. The register has no figures for revisions in years other than those listed above.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, placing Kulakkarai Road's current value below this median.

• Krishnamachari Avenue: Rs 9,400 per sq.ft (2024)
• Kottur Garden 4th Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 2nd Main Road: Rs 9,400 per sq.ft (2024)
• Kottur Garden 1st Main Road: Rs 9,400 per sq.ft (2024)
• Kasthuribai Nagar Arangannal Salai: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Kulakkarai Road?

The Sub Registrar Office that covers Kulakkarai Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Kottur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Kulakkarai Road?

The current guideline value for Kulakkarai Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 923 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 442% over the years.

What is the registration fee for property in Kulakkarai Road?

The registration fee for property in Kulakkarai Road is 2% of the guideline value, which is Rs 1,00,000 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Kulakkarai Road?

The Sub Registrar Office for Kulakkarai Road is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kottur?

Stamp duty for properties in Kottur is calculated at 7% of the higher value between the guideline value and the sale price. For example, a plot valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000.