Guideline Value for Kulakkarai street

Kulakkarai street guideline value

The current guideline value of Kulakkarai street in Siru Mathoor village, under the Sriperumpudur SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

How the guideline value of Kulakkarai street has changed

The guideline value for Kulakkarai street has remained at Rs 600 per sq.ft since the 2023 revision, which also recorded the same value. Prior to this, in the 2017 revision, the guideline value was Rs 402 per sq.ft, marking a 49% increase from 2017 to 2023. The 2012 revision also had a guideline value of Rs 600 per sq.ft, which indicates a 33% decrease from 2012 to 2017.

Looking further back, there are no figures available for the revisions in 2007, 2003, and 2002 for this street. Overall, comparing the 2012 revision to the current 2024 revision, the guideline value has not changed, remaining at Rs 600 per sq.ft.

Guideline values in Siru Mathoor

Siru Mathoor village has a total of 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the current guideline value of Kulakkarai street.

• Kundru Mettu Street: Rs 600 per sq.ft (2024)
• Metro Green Grove House: Rs 600 per sq.ft (2024)
• Jayamangalam Nagar: Rs 250 per sq.ft (2024)
• Mullai Nagar: Rs 600 per sq.ft (2024)
• Osuramman Koil street: Rs 600 per sq.ft (2024)
• Oviar Gramam: Rs 300 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 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 further calculations.

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 Siru Mathoor

The guideline value plays a crucial role during the registration of property transactions in Siru Mathoor. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the actual sale price. This ensures that both parties are protected, and the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Kulakkarai street?

The current guideline value of Kulakkarai street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2023. It increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023, and has not changed since then.

What are the other streets in Siru Mathoor with similar guideline values?

Other streets in Siru Mathoor that have a guideline value of Rs 600 per sq.ft in 2024 include Kundru Mettu Street, Metro Green Grove House, Mullai Nagar, and Osuramman Koil street.

What is the stamp duty rate for properties in Kulakkarai street?

The stamp duty rate for properties in Kulakkarai street is 7% of the guideline value or the sale price, whichever is higher.

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

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