Guideline Value for Kulothungan street

Kulothungan street guideline value

The current guideline value of Kulothungan street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kulothungan street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft. The value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase, indicating fluctuations in the guideline value over the years.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Kulothungan street's 2024 figure above this median.

• Kumaran Street: Rs 1,650 per sq.ft (2024)
• Kulakkarai street: Rs 1,650 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kuppachary Street: Rs 3,850 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy St: Rs 2,750 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during transactions to ensure compliance with local regulations.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kulothungan street?

The current guideline value of Kulothungan street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Kulothungan street?

Kulothungan street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Kulothungan street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kulothungan 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 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.