Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, with a land classification of Residential Special Type - V.

How the guideline value of Kulakkarai Street has changed

Over the years, the guideline value of Kulakkarai Street has experienced several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a guideline value for 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that Kulakkarai Street's 2024 figure is above this median.

• Kulakkarai Street Extn: Rs 3,300 per sq.ft (2024)
• Kulakkarai West Street: Rs 3,300 per sq.ft (2024)
• Kulasekaraalwar Street: Rs 950 per sq.ft (2024)
• Kulasekaran 1st Main Road: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 1st Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 2nd Street: Rs 1,300 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 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 fees to Rs 2,97,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures 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 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. From 2012 to 2024, the overall change is an increase of 10%.

What is the land classification of Kulakkarai Street?

Kulakkarai Street is classified as Residential Special Type - V, which indicates its suitability for residential purposes.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Kulakkarai Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.