Guideline Value for Kulakkarai Street Extn

Kulakkarai Street Extn guideline value

The current guideline value of Kulakkarai Street Extn is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - V.

How the guideline value of Kulakkarai Street Extn has changed

The guideline value for Kulakkarai Street Extn has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous value in 2017, which was Rs 2,010 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

In the subsequent revisions, the value increased significantly. The 2023 revision increased the guideline value to Rs 3,000 per sq.ft, and the latest 2024 revision further raised it to Rs 3,300 per sq.ft, marking a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kulakkarai Street Extn above this median at Rs 3,300 per sq.ft.

• Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai West Street: Rs 3,300 per sq.ft (2024)
• Kulasekaraalwar Street: Rs 950 per sq.ft (2024)
• Kulasekaran 1st Main Road: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 1st Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street Extn

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. Together, the total cost would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakkarai Street Extn?

The Sub Registrar Office covering Kulakkarai Street Extn is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor when buying or selling property in Selaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai Street Extn?

The current guideline value of Kulakkarai Street Extn 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing an overall increase of 10% from 2012 to 2024.

What is the land classification of Kulakkarai Street Extn?

Kulakkarai Street Extn is classified as Residential Special Type - V, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, the total cost for a 1,000 sq.ft plot at the current rate would be Rs 2,97,000.

Where is the Sub Registrar Office for Kulakkarai Street Extn located?

The Sub Registrar Office for Kulakkarai Street Extn is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.