Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Valarpuram village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Kulakkarai Street has changed

The guideline value for Kulakkarai Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision had a lower figure of Rs 134 per sq.ft, indicating a decrease of 33% from the 2012 value. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The most recent revision in 2024 has kept the guideline value stable at Rs 200 per sq.ft, showing a 0% change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which means Kulakkarai Street's 2024 figure is below that median.

• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Karuneergar Street: Rs 200 per sq.ft (2024)
• Karumariamman Nagar: Rs 200 per sq.ft (2024)
• Karthik Nagar: Rs 600 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Main Road: Rs 700 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 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that 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 information.

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 details.

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

The guideline value plays a critical role in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees applicable for the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value helps in assessing the financial obligations associated with the property transfer, making it a vital aspect of real estate transactions in Valarpuram.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 134 per sq.ft in 2017 to 2023.

What is the land classification for Kulakkarai Street?

Kulakkarai Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

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

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 18,000, based on the current guideline value of Rs 2,00,000.

Which office handles the registration for Kulakkarai Street?

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