Guideline Value for Kulakkarak Street

Kulakkarak Street guideline value

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

How the guideline value of Kulakkarak Street has changed

The guideline value for Kulakkarak Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 2,010 per sq.ft. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from the 2017 revision to the 2023 revision. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Kulakkarak Street's 2024 guideline value is above this median.

• Krishna Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 40 feet Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 4th Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 1st to 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkarak Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulakkarak Street?

The Sub Registrar Office that covers Kulakkarak 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kulakkarak Street?

The current guideline value of Kulakkarak 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. The value also decreased to Rs 2,010 per sq.ft in 2017 from Rs 3,000 per sq.ft in 2012.

What is the land classification for Kulakkarak Street?

Kulakkarak Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty rates for property in Kulakkarak Street?

The stamp duty rate for property transactions in Kulakkarak Street is 7% of the guideline value or sale price, whichever is higher. This is in addition to a registration fee of 2%.

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

The Sub Registrar Office for Kulakkarak Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.