Guideline Value for Kullakarai Cross Street

Kullakarai Cross Street guideline value

The current guideline value for Kullakarai Cross Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kottaiyoor village under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kullakarai Cross Street has changed

The guideline value for Kullakarai Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following this, the 2023 revision brought it back up to Rs 200 per sq.ft, maintaining that figure into the 2024 revision, which also set the value at Rs 200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, there has been no change in the guideline value, remaining at Rs 200 per sq.ft.

Guideline values in Kottaiyoor

In Kottaiyoor village, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 900 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Kullakarai Cross Street's 2024 figure below this median.

• Kottaiyoor Colony Cross Street: Rs 150 per sq.ft (2024)
• Kottaiyoor Colony: Rs 150 per sq.ft (2024)
• Kings Avenue: Rs 250 per sq.ft (2024)
• Mariamman Kovil street: Rs 200 per sq.ft (2024)
• Indhira Nagar: Rs 150 per sq.ft (2024)
• Padasalai Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Kullakarai Cross Street

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 cost 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. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kullakarai Cross Street?

The Sub Registrar Office that covers Kullakarai Cross Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering a property in Kottaiyoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value may influence the overall cost of property transactions.

When a property is sold, the guideline value is used to assess the minimum value for registration purposes. This ensures that the transaction is recorded at a value that reflects the official rates set by the government, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kullakarai Cross Street?

The current guideline value of Kullakarai Cross Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, saw a decrease in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Kullakarai Cross Street?

Kullakarai Cross Street is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur a total cost of Rs 18,000 in fees.

Where is the Sub Registrar Office for Kullakarai Cross Street located?

The Sub Registrar Office covering Kullakarai Cross Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.