Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 3,300 per sq.ft. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Kulakkarai Street has changed

Since the 2007 revision, the guideline value for Kulakkarai Street has seen significant increases. In 2007, the value was Rs 620 per sq.ft, which rose to Rs 3,000 per sq.ft in the 2012 revision, marking an increase of 384%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 432%. It is important to note that the register does not have figures for the years 2023, 2017, 2003, and 2002 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kulakkarai Street's 2024 value below this median.

• K.R. Ramasamy Street: Rs 3,300 per sq.ft (2024)
• Krishnan Street Block 62 (W.M): Rs 5,500 per sq.ft (2024)
• Kumarasamy Street: Rs 4,100 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kunjammal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Krishnan 2nd Street: Rs 2,700 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 amounts to 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 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 Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to be aware of the current guideline value to avoid 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 changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432% over the years.

What is the land classification for Kulakkarai Street?

Kulakkarai Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Kulakkarai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kulakkarai Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.