Guideline Value for Kulakkarai street

Kulakkarai street guideline value

The current guideline value of Kulakkarai street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kulakkarai street has changed

The guideline value for Kulakkarai street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 400 per sq.ft. This increased to Rs 800 per sq.ft in the 2012 revision, followed by a decrease to Rs 536 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 800 per sq.ft, and the most recent revision in 2024 has set the value at Rs 880 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between these revisions, there were notable changes: from 2007 to 2012, the value increased by 100%, but it decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which means that Kulakkarai street's 2024 figure is below this median.

• Kumaran street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Kousalya street(Maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Lakshmi street(maruthiram nagar): Rs 1,100 per sq.ft (2024)
• K C Daga Nagar Extn - II: Rs 2,700 per sq.ft (2024)
• K.C.Daga Nagar Extn - I: Rs 1,700 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 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ayappakkam. It determines 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 serves as a reference point for both buyers and sellers. It helps in assessing the financial obligations related to the transaction, including the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kulakkarai street?

The current guideline value of Kulakkarai street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification of Kulakkarai street?

Kulakkarai street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for Kulakkarai street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Kulakkarai street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.