Guideline Value for Kulakkarai Street

Kulakkarai Street guideline value

The current guideline value of Kulakkarai Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Sethamangalam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kulakkarai Street has changed

Looking at the revisions, the guideline value for Kulakkarai Street was Rs 250 per sq.ft in both the 2023 and 2024 revisions. Prior to that, the 2017 revision set the value at Rs 167 per sq.ft, showing a 50% increase from 2017 to 2023. In the 2012 revision, the value was Rs 250 per sq.ft, which was a decrease of 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the value has remained unchanged at Rs 250 per sq.ft.

The register does not contain figures for the years 2002, 2003, and 2007 for Kulakkarai Street.

Guideline values in Sethamangalam

In Sethamangalam, there are 11 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 250 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Kulakkarai Street's 2024 figure below that median.

• Madha Kovil Street: Rs 500 per sq.ft (2024)
• Iyappa Nager: Rs 405 per sq.ft (2024)
• New Colony First Street: Rs 250 per sq.ft (2024)
• New Colony Second Street: Rs 250 per sq.ft (2024)
• New Colony Third Street: Rs 250 per sq.ft (2024)
• Chennai - Bangalore National Highway: Rs 500 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 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Kulakkarai Street?

The Sub Registrar Office that covers Kulakkarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Sethamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are based on a standard valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the government for the property. This ensures transparency and fairness in property transactions, as it prevents undervaluation and ensures that appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Kulakkarai Street?

The current guideline value of Kulakkarai Street is Rs 250 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 various revisions, with the most recent being Rs 250 per sq.ft in both 2023 and 2024. The value increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What are the other streets in Sethamangalam?

In addition to Kulakkarai Street, there are several other streets in Sethamangalam, with varying guideline values. These include Madha Kovil Street at Rs 500 per sq.ft and Iyappa Nager at Rs 405 per sq.ft.

What is the stamp duty for property transactions in Kulakkarai Street?

The stamp duty for property transactions in Kulakkarai Street is 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 2,50,000, the stamp duty would be Rs 17,500.

Where can I find the Sub Registrar Office for Kulakkarai Street?

The Sub Registrar Office for Kulakkarai Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Sunguvarchattram registration zone. You can find more details on how to locate your SRO online.