Guideline Value for Kuttakarai 1st Street

Kuttakarai 1st Street guideline value

The current guideline value of Kuttakarai 1st Street in Irumpuliyur village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Kuttakarai 1st Street has changed

The guideline value for Kuttakarai 1st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, this figure decreased to Rs 536 per sq.ft in 2017. The subsequent revision in 2023 raised the guideline value to Rs 800 per sq.ft, and the latest revision in 2024 has increased it further to Rs 880 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Between the revisions, there have been significant changes. From 2007 to 2012, the value increased by 60%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has risen by 76% from 2007 to 2024.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making Kuttakarai 1st Street's 2024 figure below this median.

• Kurunji Nagar (Kurunji Street): Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 4-th St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 3-rd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 2-nd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 1st St: Rs 1,650 per sq.ft (2024)
• Kulakkarai Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kuttakarai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 precise calculations.

Which Sub Registrar Office covers Kuttakarai 1st Street?

The Kuttakarai 1st Street is covered by 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 Irumpuliyur

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuttakarai 1st Street?

The current guideline value of Kuttakarai 1st Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 500 per sq.ft in 2007, increasing to Rs 800 in 2012, then decreasing to Rs 536 in 2017, and rising to Rs 800 in 2023 before reaching Rs 880 in 2024.

What is the land classification for Kuttakarai 1st Street?

Kuttakarai 1st Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200. These fees are based on the higher of the guideline value or the sale price.

Which office handles the registration for Kuttakarai 1st Street?

The registration for Kuttakarai 1st Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.