Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Kunduperumpedu village, under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Kulakkarai Street has changed

Looking at the revisions, the guideline value for Kulakkarai Street has seen several changes over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision recorded a lower value of Rs 67 per sq.ft, marking a decrease of 33% from the 2012 figure. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft.

As of the latest revision in 2024, the guideline value remains at Rs 100 per sq.ft, indicating no change from the previous year. It is important to note that the register has no figures for Kulakkarai Street for the years 2002, 2003, and 2007.

Guideline values in Kunduperumpedu

In Kunduperumpedu village, there are 35 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Kulakkarai Street's 2024 figure below that median.

• Kudiarasu Nagar: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Kambar Street: Rs 150 per sq.ft (2024)
• Jothi Pasu Nagar: Rs 500 per sq.ft (2024)
• J.J.Nagar Main Road: Rs 200 per sq.ft (2024)
• J.J.Nagar 2nd Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai Street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty, calculated at 7%, would be Rs 7,000, while the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling a property in Kunduperumpedu, the guideline value ensures that the transaction is recorded accurately and transparently, reflecting the official valuation of the property.

During registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain a standardized approach to property valuation in the region, ensuring fair practices in real estate transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kulakkarai Street has seen several revisions, including Rs 100 per sq.ft in 2012, 2023, and 2024, with a drop to Rs 67 per sq.ft in 2017. The value remained unchanged from 2023 to 2024, indicating stability in the recent years.

What is the land classification of Kulakkarai Street?

Kulakkarai Street is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.

What are the stamp duty rates applicable?

The stamp duty for properties in Kulakkarai Street is set at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies to the transaction.

Where is the Sub Registrar Office for Kulakkarai Street located?

The Sub Registrar Office covering Kulakkarai Street is located at 27, Chetty Street, Sriperumpudur-602 105, within the Chengalpattu registration zone.