Guideline Value for Kullakkarai Street

Kullakkarai Street guideline value

The current guideline value of Kullakkarai Street in Selvazhimagalam village is Rs 126 per sq.ft, effective from the 2024 revision. This street falls under the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Kullakkarai Street has changed

In the 2012 revision, the guideline value was set at Rs 125 per sq.ft. This figure decreased to Rs 84 per sq.ft in the 2017 revision, marking a 33% reduction. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 126 per sq.ft. The 2024 revision maintains this same value, resulting in no change from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for Kullakkarai Street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 1%.

Guideline values in Selvazhimagalam

In Selvazhimagalam, there are 11 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 126 to Rs 500 per sq.ft. Kullakkarai Street's current value of Rs 126 per sq.ft is below the median of Rs 200 per sq.ft for the village.

• Kodi Street: Rs 200 per sq.ft (2024)
• Mantheivelli Street: Rs 200 per sq.ft (2024)
• Jambodai Street: Rs 300 per sq.ft (2024)
• Jambodai Kurukku Street: Rs 300 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)
• Chennai Bangalore Main Road: Rs 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 126 per sq.ft, the guideline value amounts to Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, totaling Rs 11,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kullakkarai Street?

The Kullakkarai Street is covered by 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 Selvazhimagalam

The guideline value is a crucial factor in property transactions in Selvazhimagalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling a property, it is essential to consider the guideline value as it affects the stamp duty and registration fees. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kullakkarai Street?

The current guideline value of Kullakkarai Street is Rs 126 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 126 per sq.ft from 2023 to 2024. It increased by 50% from Rs 84 per sq.ft in 2017 to Rs 126 per sq.ft in 2023, but it decreased from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017.

What are the other streets in Selvazhimagalam?

Other streets in Selvazhimagalam include Kodi Street, Mantheivelli Street, Jambodai Street, Jambodai Kurukku Street, and Pillaiyar Kovil Street, among others, with varying guideline values.

Where can I find the registration office for Kullakkarai Street?

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

How is stamp duty calculated for properties in Kullakkarai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 11,340 in stamp duty and registration fees.