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 Pennaloor village under the Sriperumpudur SRO, classified as Residential Class IV 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 figure is from 2012, where the value was Rs 100 per sq.ft. In 2017, the value decreased to Rs 67 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 100 per sq.ft. The most recent revision in 2024 maintained this value at Rs 100 per sq.ft, showing no change from the previous year.

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

Guideline values in Pennaloor

In Pennaloor, there are a total of 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,200 per sq.ft, with a median value of Rs 200 per sq.ft. Kulakkarai Street's 2024 guideline value is below this median.

• Kundrathur Avenue: Rs 400 per sq.ft (2024)
• KPS Nagar: Rs 400 per sq.ft (2024)
• K.A.Anna Nagar Ph.-II: Rs 500 per sq.ft (2024)
• K.A.Anna Nagar: Rs 400 per sq.ft (2024)
• M.G.R Nagar: Rs 100 per sq.ft (2024)
• MGR 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 guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total fees Rs 9,000. 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 details.

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 Pennaloor

The guideline value is a crucial factor during the registration process when buying or selling property in Pennaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the guideline value helps in establishing a fair transaction value for taxation purposes. This ensures that both buyers and sellers are aware of the financial implications related to property transactions in the area.

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 has remained at Rs 100 per sq.ft since 2012, with a decrease to Rs 67 per sq.ft in 2017, followed by a return to Rs 100 per sq.ft in 2023 and 2024.

Are there any years without recorded figures for Kulakkarai Street?

Yes, there are no recorded figures for Kulakkarai Street in the revisions of 2002, 2003, and 2007.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000.

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.