Guideline Value for Kullakkarai Street

Kullakkarai Street guideline value

The current guideline value of Kullakkarai Street in Pattravakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class III Type - I.

How the guideline value of Kullakkarai Street has changed

The guideline value for Kullakkarai Street has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, the value then decreased to Rs 670 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 1,000 per sq.ft, and the most recent 2024 revision has brought it up to Rs 1,100 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value has been 267%. The value rose by 233% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024.

Guideline values in Pattravakkam

In Pattravakkam, there are 34 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,900 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, making Kullakkarai Street's 2024 figure below the median.

• Krishna Nagar: Rs 1,100 per sq.ft (2024)
• Lakshmi Colony: Rs 1,100 per sq.ft (2024)
• Karukku Utkadai Paguthi & Street & Lanes: Rs 1,500 per sq.ft (2024)
• Karukku Main Road: Rs 2,200 per sq.ft (2024)
• Kanniamman Koil Street: Rs 1,100 per sq.ft (2024)
• Kannan Koil Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kullakkarai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. 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 more information on fees applicable to property transactions.

Which Sub Registrar Office covers Kullakkarai Street?

Kullakkarai Street is covered by the Konnur Sub Registrar Office located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pattravakkam, as it determines the base value for stamp duty and registration fees. When a property is sold, the guideline value is used to assess the applicable taxes, ensuring that both buyers and sellers are aware of their financial obligations.

Additionally, the guideline value helps in establishing a fair price for properties in the area, providing a reference point for negotiations between buyers and sellers. It is essential for both parties to understand the guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Kullakkarai Street?

The current guideline value of Kullakkarai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the other streets in Pattravakkam with similar guideline values?

Other streets in Pattravakkam with a guideline value of Rs 1,100 per sq.ft include Krishna Nagar, Lakshmi Colony, and Kanniamman Koil Street.

What is the registration office for Kullakkarai Street?

The registration office for Kullakkarai Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kullakkarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.