Guideline Value for Kulothungan Street

Kulothungan Street guideline value

The current guideline value of Kulothungan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kulothungan Street has changed

The guideline value for Kulothungan Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase from Rs 1,000 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, the 2017 revision recorded a guideline value of Rs 670 per sq.ft, reflecting a significant increase of +49% to the 2023 figure. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%. This consistent upward trend indicates changes in the valuation of properties in the area, as reflected in the revisions.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which means that Kulothungan Street's 2024 figure is below this median.

• Kurunji Street: Rs 1,100 per sq.ft (2024)
• Kuturavu Colony: Rs 1,100 per sq.ft (2024)
• Krishandas Street: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 1,320 per sq.ft (2024)
• K.K. Sami Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kulothungan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kulothungan Street?

The Sub Registrar Office that covers Kulothungan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Pozhichalur. It serves as the basis for calculating the stamp duty and registration fees that are required at the time of property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kulothungan Street?

The current guideline value of Kulothungan 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 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, representing an overall increase of +64% over this period.

What are the other streets in Pozhichalur with the same guideline value?

Other streets in Pozhichalur with the same guideline value of Rs 1,100 per sq.ft in 2024 include Kurunji Street, Kuturavu Colony, and Krishandas Street.

What is the registration fee for properties in Kulothungan Street?

The registration fee for properties in Kulothungan Street is calculated at 2% of the guideline value. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000.

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

The Sub Registrar Office for Kulothungan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.