Guideline Value for Kulakkari Street

Kulakkari Street guideline value

The current guideline value of Kulakkari Street, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Kulakkari Street has changed

The guideline value of Kulakkari Street has seen significant changes over the years. In the 2002 revision, the value was Rs 338 per sq.ft, which increased to Rs 367 per sq.ft in 2003, marking a 9% rise. The value then saw a substantial increase of 91% to Rs 700 per sq.ft in 2007. Following that, the 2012 revision recorded the value at Rs 3,500 per sq.ft, reflecting a remarkable 400% increase from the previous revision. However, the 2017 revision saw a decrease of 33%, bringing the value down to Rs 2,345 per sq.ft. The value then rose significantly to Rs 3,500 per sq.ft in the 2023 revision, a 49% increase. The latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from 2023.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1024%.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with the median being Rs 3,800 per sq.ft. Kulakkari Street's 2024 guideline value aligns with this median.

• K.R. Nagar: Rs 3,800 per sq.ft (2024)
• Kosa Street (South Mada St/Therkku Mada St): Rs 5,500 per sq.ft (2024)
• K.K. Nagar: Rs 3,800 per sq.ft (2024)
• Kilakkumadaveethi Extension: Rs 5,500 per sq.ft (2024)
• Kilakkumadaveethi: Rs 5,500 per sq.ft (2024)
• Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kulakkari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. 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 details.

Which Sub Registrar Office covers Kulakkari Street?

The Sub Registrar Office covering Kulakkari Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value ensures that the property is assessed fairly based on its location and classification.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kulakkari Street?

The current guideline value of Kulakkari Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 338 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1024%.

What land classification is Kulakkari Street under?

Kulakkari Street is classified as Residential Class II Type - I.

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

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kulakkari Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,66,000.