Guideline Value for Kullakkarai Street

Kullakkarai Street guideline value

The current guideline value of Kullakkarai Street in Karanaithangal village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kullakkarai Street has changed

The guideline value for Kullakkarai Street has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged in the subsequent revision in 2017, where it dropped to Rs 335 per sq.ft. The value then increased to Rs 500 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, reflecting no percentage change from 2023 to 2024.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been no change in the guideline value, remaining at Rs 500 per sq.ft.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 471 to Rs 1,000 per sq.ft, with the median being Rs 500 per sq.ft. Kullakkarai Street's 2024 figure is equal to this median.

• Kalaivani Nagar: Rs 500 per sq.ft (2024)
• JanRathinam Nagar: Rs 600 per sq.ft (2024)
• Perinjambakkam Salai: Rs 500 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 500 per sq.ft (2024)
• Priya Nagar: Rs 800 per sq.ft (2024)
• Compact Homs-Atana: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kullakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kullakkarai Street?

The Sub Registrar Office that covers Kullakkarai 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 Karanaithangal

The guideline value is a crucial factor in the registration process when buying or selling property in Karanaithangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the seller must ensure that the sale price is at least equal to the guideline value to avoid discrepancies during registration. This ensures that all transactions are transparent and adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kullakkarai Street?

The current guideline value of Kullakkarai Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease in 2017 to Rs 335 per sq.ft, followed by a return to Rs 500 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained unchanged.

What is the land classification of Kullakkarai Street?

Kullakkarai Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

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

What fees are associated with property transactions in Kullakkarai Street?

When buying property in Kullakkarai Street, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.