Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Adayalampattu village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 2,200 per sq.ft. This value decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%, reaching Rs 2,200 per sq.ft. The latest revision in 2024 set the value at Rs 2,420 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Kulakkarai Street. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 10%.

Guideline values in Adayalampattu

Adayalampattu village has a total of 19 streets under the Chennai South Joint II SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 3,850 per sq.ft. The median value among these streets is Rs 2,420 per sq.ft, which is equal to the guideline value of Kulakkarai Street.

• Kings Avenue: Rs 2,420 per sq.ft (2024)
• Kambar Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• MCK Nagar: Rs 2,420 per sq.ft (2024)
• Metro Royal City: 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 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost for stamp duty and registration fee would be Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adayalampattu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the current market standards set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

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

For a 1,000 sq.ft property, the total guideline value is Rs 24,20,000. The stamp duty would be Rs 1,69,400, and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers Adayalampattu?

The Chennai South Joint II Sub Registrar Office covers Adayalampattu, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Kulakkarai Street?

Kulakkarai Street is classified as Residential Class I Type - II, indicating its zoning for residential use.