Guideline Value for Kulathu Street (PANNEERVAKKAM)

Kulathu Street (PANNEERVAKKAM) guideline value

The current guideline value of Kulathu Street (PANNEERVAKKAM) is Rs 385 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kulathu Street (PANNEERVAKKAM) has changed

The guideline value for Kulathu Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased to Rs 350 per sq.ft in 2012, marking a 75% rise. However, it saw a decrease to Rs 234 per sq.ft in 2017, a reduction of 33%. The value then increased significantly to Rs 350 per sq.ft in 2023, followed by a further increase to Rs 385 per sq.ft in the 2024 revision, which represents a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 93%. It is important to note that there are no figures available for Kulathu Street in the 2002 and 2003 revisions.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Kulathu Street's 2024 guideline value is below this median.

• Kumaran Street: Rs 660 per sq.ft (2024)
• Kumaravel Street: Rs 770 per sq.ft (2024)
• Ko.C. Mani Street: Rs 770 per sq.ft (2024)
• Lal Bahadur Shastri Street: Rs 770 per sq.ft (2024)
• Kennedy Street: Rs 770 per sq.ft (2024)
• Kattabomman Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kulathu Street (PANNEERVAKKAM)

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, while the registration fee at 2% would be Rs 7,700, bringing the total fees to Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulathu Street (PANNEERVAKKAM)?

The Sub Registrar Office that covers Kulathu Street (PANNEERVAKKAM) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration of property transactions in Padiyanallur. It serves as a benchmark for determining the minimum price 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, the guideline value helps both parties understand the official valuation of the property. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kulathu Street (PANNEERVAKKAM)?

The current guideline value of Kulathu Street (PANNEERVAKKAM) is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 385 per sq.ft in 2024, showing an overall increase of 93% over the years.

What is the registration fee for property in Kulathu Street?

The registration fee for property in Kulathu Street is 2% of the guideline value or sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What other streets in Padiyanallur have guideline values?

Other streets in Padiyanallur include Kumaran Street, Kumaravel Street, Ko.C. Mani Street, Lal Bahadur Shastri Street, Kennedy Street, and Kattabomman Street, with guideline values ranging from Rs 660 to Rs 770 per sq.ft in 2024.