Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

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

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has undergone several revisions over the years. In 2002, the value was Rs 454 per sq.ft. This increased to Rs 516 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, which was a 133% increase. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, reflecting a 150% increase from the previous figure. The value then dropped to Rs 2,010 per sq.ft in 2017, which was a 33% decrease. The most recent revisions show a substantial increase, with the 2023 figure at Rs 3,000 per sq.ft, followed by a 10% rise to the current value of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 627%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Kulakkarai Street's 2024 figure below that median.

• Kulakkarai Lane: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,900 per sq.ft (2024)
• Kulakkarai 2nd Lane: Rs 3,900 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 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, making the total cost for these fees Rs 2,97,000. 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 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. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

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 increased from Rs 454 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 627% over this period.

What is the land classification for Kulakkarai Street?

Kulakkarai Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for properties in Kulakkarai Street?

For a 1,000 sq.ft property, the total guideline value is Rs 33,00,000, with stamp duty at Rs 2,31,000 and registration fees at Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Kulakkarai Street located?

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