Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street in Nandhivaram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri 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 undergone several revisions over the years. In 2002, the value was Rs 116 per sq.ft, which increased to Rs 330 per sq.ft in 2007, marking a significant increase of 184%. The value then rose dramatically to Rs 1,000 per sq.ft in 2012, reflecting a 203% increase. However, between 2012 and 2017, the value decreased by 33% to Rs 670 per sq.ft. The subsequent revision in 2023 maintained the value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 762%. It is important to note that there is no figure available for Kulakkarai Street in the 2003 revision.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Kulakkarai Street's 2024 figure below this median.

• Kubera Nagar: Rs 3,500 per sq.ft (2024)
• Krishnaveni Nagar: Rs 1,500 per sq.ft (2024)
• Krishnapuram 1 to 3 Main Road: Rs 1,500 per sq.ft (2024)
• Krishnapuram 1 to 3 Cross Streets: Rs 1,500 per sq.ft (2024)
• Lakshmi Garden: Rs 1,500 per sq.ft (2024)
• Lakshmi Nagar (3,6,7,8,9,440/A1c): Rs 1,500 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 1,000 per sq.ft, the total guideline value is Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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?

Kulakkarai Street is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandhivaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value serves as a benchmark for property pricing in the area. It helps both buyers and sellers understand the value of the property based on the prevailing rates set by the government.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 116 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, with various increases and one decrease over the years.

What is the registration office for Kulakkarai Street?

The registration office for Kulakkarai Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202.

How is the stamp duty calculated for properties?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.

What are the guideline values of other streets in Nandhivaram?

Other streets in Nandhivaram have varying guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft, with the median being Rs 1,500 per sq.ft.