Guideline Value for Kulathur 1 to 14 Streets

Kulathur 1 to 14 Streets guideline value

The current guideline value for Kulathur 1 to 14 Streets in Kovilambakkam village is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kulathur 1 to 14 Streets has changed

The guideline value for Kulathur 1 to 14 Streets has seen significant changes over the years. Starting from Rs 67 per sq.ft in 2002, the value increased to Rs 84 per sq.ft in 2003, marking a 25% rise. The value then surged to Rs 500 per sq.ft in 2007, reflecting a substantial increase of 495%. Following this, the value reached Rs 2,000 per sq.ft in 2012, which was a 300% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 2,000 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,160 per sq.ft, representing an 8% increase from the previous year. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the current value of Kulathur 1 to 14 Streets below this median.

• Kulakarai Street: Rs 2,160 per sq.ft (2024)
• Kurinji Nagar: Rs 2,160 per sq.ft (2024)
• Kurunji Nagar 1 To 6 Main Road: Rs 2,160 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,380 per sq.ft (2024)
• Kolathur Salai: Rs 2,750 per sq.ft (2024)
• Kbg Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kulathur 1 to 14 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees to Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kulathur 1 to 14 Streets?

The Kulathur 1 to 14 Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. For more information, you can find your SRO.

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

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

When buyers or sellers engage in property transactions, the guideline value is referenced to calculate the applicable fees. It is essential to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kulathur 1 to 14 Streets?

The current guideline value for Kulathur 1 to 14 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2002 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 3124% over the years.

What is the role of the Pallavaram SRO?

The Pallavaram SRO is responsible for registering property transactions in Kovilambakkam, ensuring compliance with local regulations and collecting applicable fees.

What are the stamp duty rates for properties in Kulathur 1 to 14 Streets?

The stamp duty rate for properties in Kulathur 1 to 14 Streets is 7% of the guideline value or sale price, whichever is higher.

Where can I find more information about the registration process?

For more information about the registration process, you can visit the Pallavaram Sub Registrar Office or use the find your SRO tool online.