Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Nemili_B village, under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Kulakkarai Street has changed

Over the years, the guideline value for Kulakkarai Street has seen several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 200 per sq.ft, which was then reduced by 25% to Rs 150 per sq.ft in the 2024 revision.

The 2023 revision marked a decrease from the previous year, reflecting a shift in the guideline value. The guideline value for Kulakkarai Street has now been established at Rs 150 per sq.ft, which is lower than the median value of Rs 250 per sq.ft for other streets in Nemili_B.

Guideline values in Nemili_B

Nemili_B village has a total of 97 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 1,500 per sq.ft. Kulakkarai Street's 2024 guideline value is below the median of Rs 250 per sq.ft.

• Kumaran Street: Rs 200 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Madhuramman Koil Cross Street: Rs 150 per sq.ft (2024)
• Madhuramman Koil Street: Rs 150 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 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or 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 Nemili_B

The guideline value is a crucial factor when registering property transactions in Nemili_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with the local regulations. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 150 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 2023 to Rs 150 per sq.ft in 2024, reflecting a decrease of 25%. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 13,500. This includes a stamp duty of Rs 10,500 and a registration fee of Rs 3,000.

Which office handles property registrations for Kulakkarai Street?

The Sriperumpudur Sub Registrar Office handles property registrations for Kulakkarai Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the median guideline value for streets in Nemili_B?

The median guideline value for streets in Nemili_B is Rs 250 per sq.ft. Kulakkarai Street's 2024 guideline value of Rs 150 per sq.ft is below this median.