Guideline Value for Kulanthaivelu Nagar

Kulanthaivelu Nagar guideline value

The current guideline value of Kulanthaivelu Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Mevaloorkuppam village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Kulanthaivelu Nagar has changed

The guideline value for Kulanthaivelu Nagar has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012, marking a 300% rise. However, in the subsequent revision in 2017, the value decreased to Rs 134 per sq.ft, a drop of 33%. The value further declined to Rs 100 per sq.ft in 2023, a reduction of 25%. The most recent revision in 2024 has increased the guideline value back to Rs 200 per sq.ft, reflecting a 100% increase from the previous year.

It is important to note that the register has no figures for Kulanthaivelu Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Kulanthaivelu Nagar's 2024 figure is below this median.

• Kulakkarai Street: Rs 700 per sq.ft (2024)
• Kingsland Extension: Rs 700 per sq.ft (2024)
• Kings Land: Rs 700 per sq.ft (2024)
• Madha Koil Street Nedunsalai: Rs 300 per sq.ft (2024)
• Kannadapalayam Street: Rs 200 per sq.ft (2024)
• Manthoppu Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kulanthaivelu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 Kulanthaivelu Nagar?

The Sub Registrar Office covering Kulanthaivelu Nagar 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 Mevaloorkuppam

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

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the total cost involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kulanthaivelu Nagar?

The current guideline value of Kulanthaivelu Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreasing to Rs 134 in 2017, further to Rs 100 in 2023, and finally returning to Rs 200 in 2024.

What are the stamp duty and registration fees for properties in Kulanthaivelu Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles property registrations in Kulanthaivelu Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations in Kulanthaivelu Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration, ensuring proper revenue collection through stamp duty and registration fees. It helps maintain transparency in property transactions.