Guideline Value for Kulakkarai West Street

Kulakkarai West Street guideline value

The current guideline value of Kulakkarai West Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - V.

How the guideline value of Kulakkarai West Street has changed

The guideline value for Kulakkarai West Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw the value increase to Rs 3,000 per sq.ft, followed by a further increase to the current value of Rs 3,300 per sq.ft in 2024, representing a 10% rise.

There are no recorded figures for Kulakkarai West Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Kulakkarai West Street's 2024 figure of Rs 3,300 per sq.ft is above the median.

• Kulasekaraalwar Street: Rs 950 per sq.ft (2024)
• Kulasekaran 1st Main Road: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 1st Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 2nd Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 3rd Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai West Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Kulakkarai West Street?

The Sub Registrar Office that covers Kulakkarai West Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is crucial for buyers to be aware of the guideline value to ensure they are not overpaying for a property and for sellers to set a realistic price based on this value.

Frequently asked questions

What is the current guideline value of Kulakkarai West Street?

The current guideline value of Kulakkarai West Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Kulakkarai West Street?

Kulakkarai West Street is classified as Residential Special Type - V under the Selaiyur SRO.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kulakkarai West Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.