Guideline Value for Kullakarai Street

Kullakarai Street guideline value

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

How the guideline value of Kullakarai Street has changed

Over the years, the guideline value for Kullakarai Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision had a lower figure of Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. Between 2017 and 2023, there was a significant increase of 49%, bringing it back to Rs 200 per sq.ft.

The current guideline value remains the same as the previous two revisions, with no changes observed from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value among these streets is Rs 250 per sq.ft, indicating that Kullakarai Street's 2024 figure is below this median.

• Kambar Street: Rs 200 per sq.ft (2024)
• Kamarajar Nagar: Rs 350 per sq.ft (2024)
• M.B.C Street: Rs 250 per sq.ft (2024)
• Kakkan Street: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Mooventhar Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kullakarai 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 is charged at 7%, totaling Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fee would be Rs 18,000. 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 more details.

Which Sub Registrar Office covers Kullakarai Street?

The Sub Registrar Office that covers Kullakarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vada Mangalam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kullakarai Street?

The current guideline value of Kullakarai 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 from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What is the median guideline value in Vada Mangalam?

The median guideline value in Vada Mangalam is Rs 250 per sq.ft, while Kullakarai Street's current value is below this median.

What are the stamp duty and registration fees for Kullakarai Street?

For a plot of 1,000 sq.ft, the total stamp duty is Rs 14,000 and the registration fee is Rs 4,000, making the total Rs 18,000 based on the guideline value.

Where can I find the Sub Registrar Office for Kullakarai Street?

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