Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street in Orakadu & Kiruthalapuram village is Rs 275 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II 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 2007, the value was Rs 200 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it then decreased to Rs 167 per sq.ft in 2017. The value rose significantly to Rs 250 per sq.ft in 2023 and has further increased to Rs 275 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to 2023, the value increased by 50%. The overall change from 2007 to 2024 shows an increase of 38%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft, with a median value of Rs 385 per sq.ft. Kulakkarai Street's 2024 value is below this median.

• Kirudhalapuram Pradhana Salai: Rs 385 per sq.ft (2024)
• Kambar Street: Rs 385 per sq.ft (2024)
• Mecca Nagar: Rs 385 per sq.ft (2024)
• Kalaignar Street: Rs 385 per sq.ft (2024)
• M.G.R. Street: Rs 385 per sq.ft (2024)
• Kakkanji Street: Rs 275 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 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total fees to Rs 24,750. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value is a crucial factor when registering property transactions in Orakadu & Kiruthalapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 275 per sq.ft in 2024, with various revisions in between. Notably, it increased by 50% from 2017 to 2023.

What is the median guideline value in Orakadu & Kiruthalapuram?

The median guideline value in Orakadu & Kiruthalapuram is Rs 385 per sq.ft based on the 2024 revisions of 34 streets.

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

For a property valued at Rs 2,75,000, the stamp duty would be Rs 19,250 and the registration fee would be Rs 5,500, totaling Rs 24,750.

Where is the Sub Registrar Office for Kulakkarai Street located?

The Sub Registrar Office for Kulakkarai Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.