Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

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

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has seen several revisions over the years. In 2002, the value was Rs 189 per sq.ft, which increased to Rs 208 per sq.ft in 2003. The value then rose significantly to Rs 400 per sq.ft in 2007, followed by a steep increase to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,646%. The register has no figures for the years not mentioned in the revisions, ensuring that every change is accounted for in the established timeline.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Kulakkarai Street.

• Kavery Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Madipakkam Main Road: Rs 3,300 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Mount Medavakkam Road: Rs 5,500 per sq.ft (2024)
• Muvarasampattu Main Road: Rs 4,400 per sq.ft (2024)
• Narmatha Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai 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 be 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Moovarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai 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 from Rs 189 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,646% over the years.

What is the stamp duty for property in Kulakkarai Street?

The stamp duty for property in Kulakkarai Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Moovarasampattu with similar guideline values?

Other streets in Moovarasampattu with a guideline value of Rs 3,300 per sq.ft include Kavery Street(GANGA NAGAR) and Madipakkam Main Road.