Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 1,340 per sq.ft. In the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a significant change of +64% from the 2017 figure.

It is important to note that there are no recorded figures for Kulakkarai Street in the revisions from 2002, 2003, 2007, 2012, and 2023.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making Kulakkarai Street's current value below the median.

• Kulakkarai Cross Street: Rs 2,200 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 2,200 per sq.ft (2024)
• Kulakkarai 1st Street: Rs 2,200 per sq.ft (2024)
• Kuberan Street, Srinivasa Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar South 4th Street: Rs 3,850 per sq.ft (2024)
• Kuberan Nagar South 3rd Street: Rs 3,850 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is essential for calculating applicable fees such as stamp duty and registration charges. This value helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

Are there any recorded figures for Kulakkarai Street in previous revisions?

There are no recorded figures for Kulakkarai Street in the revisions from 2002, 2003, 2007, 2012, and 2023.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Kulakkarai Street.

Where is the Sub Registrar Office for Kulakkarai Street located?

The Sub Registrar Office for Kulakkarai Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.