Guideline Value for North Kulakarai Street

North Kulakarai Street guideline value

The current guideline value of North Kulakarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of North Kulakarai Street has changed

The guideline value for North Kulakarai Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, this value decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to the current rate of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing North Kulakarai Street's current guideline value below this median.

• Nehru Street (GST Road): Rs 2,200 per sq.ft (2024)
• Nehru Nagar: Rs 880 per sq.ft (2024)
• Nagarathinam Nagar: Rs 3,300 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,320 per sq.ft (2024)
• Muthtamil Nagar: Rs 1,320 per sq.ft (2024)
• Munuswamy Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in North Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers North Kulakarai Street?

The Sub Registrar Office that covers North Kulakarai 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 Kadaperi

The guideline value plays a crucial role in the registration process of property transactions in Kadaperi. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the transaction reflects the official value set by the registration department.

Frequently asked questions

What is the current guideline value of North Kulakarai Street?

The current guideline value of North Kulakarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120%.

What is the land classification for North Kulakarai Street?

North Kulakarai Street is classified as Residential Class I Type - III, which indicates its use for residential purposes.

Where can I find the Sub Registrar Office for North Kulakarai Street?

The Sub Registrar Office covering North Kulakarai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How do stamp duty and registration fees work in Kadaperi?

Stamp duty and registration fees in Kadaperi are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct amount is paid during the registration process.