Guideline Value for Kulakkarai street

Kulakkarai street guideline value

The current guideline value of Kulakkarai street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Somangalam_B village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Kulakkarai street has changed

The guideline value for Kulakkarai street has remained stable at Rs 400 per sq.ft since the 2023 revision. Prior to that, in the 2017 revision, the value was Rs 268 per sq.ft, marking a significant increase of 49% over the six-year period from 2017 to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 49%.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Kulakkarai street's 2024 figure above that median.

• Kundrathur main road: Rs 500 per sq.ft (2024)
• KR Garden Phase-II: Rs 400 per sq.ft (2024)
• KR Garden: Rs 250 per sq.ft (2024)
• Kasthuri Nagar: Rs 400 per sq.ft (2024)
• Karuneekar Nagar: Rs 250 per sq.ft (2024)
• Kanthapuri: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarai street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Please 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 Somangalam_B

The guideline value is a crucial factor in property transactions in Somangalam_B, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kulakkarai street?

The current guideline value of Kulakkarai street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, reflecting a 49% increase over that period.

What is the land classification of Kulakkarai street?

Kulakkarai street is classified as Residential Special Type - I, which influences its guideline value and potential uses.

What are the stamp duty rates for properties in Kulakkarai street?

The stamp duty for properties in Kulakkarai street is charged at 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 the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.