Guideline Value for Kulandhai Street

Kulandhai Street guideline value

The current guideline value of Kulandhai Street in Muthiyalpet village is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sowcarpet SRO and is classified as Residential Special Type - I.

How the guideline value of Kulandhai Street has changed

Starting from the 2003 revision, the guideline value for Kulandhai Street was Rs 1,289 per sq.ft. This figure increased to Rs 2,000 per sq.ft in 2007, marking a significant rise of 55%. In 2012, the value rose to Rs 5,500 per sq.ft, reflecting a substantial increase of 175%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, showing a decline of 33%. The 2023 revision saw an increase to Rs 5,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 365%. The register has no figure for Kulandhai Street for the year 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kulandhai Street's 2024 guideline value is above this median.

• Kumarappa Maistry Street: Rs 6,000 per sq.ft (2024)
• Kumarappa Mudali Street: Rs 4,900 per sq.ft (2024)
• Krishnappa Naicken Tank Street: Rs 4,400 per sq.ft (2024)
• Krishnappa Naicken Agraharam Street: Rs 4,900 per sq.ft (2024)
• Krishnappa Maistry Street: Rs 4,400 per sq.ft (2024)
• Kuppaiyer Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kulandhai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulandhai Street?

The Sub Registrar Office that covers Kulandhai Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

During the registration process, the guideline value helps in assessing the legal value of the property. This ensures transparency and helps prevent undervaluation of properties, which could lead to losses in government revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Kulandhai Street?

The current guideline value of Kulandhai Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 1,289 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 365% over these years.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, with Kulandhai Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Kulandhai Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Where is the Sub Registrar Office for Kulandhai Street located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, and it handles registrations for Kulandhai Street.