Guideline Value for North Kulakkarai Street

North Kulakkarai Street guideline value

The current guideline value of North Kulakkarai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of North Kulakkarai Street has changed

In the 2007 revision, the guideline value was Rs 1,650 per sq.ft. This figure saw a significant increase in the 2012 revision, rising to Rs 6,000 per sq.ft, which is a change of 264%. The latest revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, marking a 10% increase from the 2012 figure. The register has no figures for the years 2023, 2017, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. This substantial change reflects the evolving property landscape in the area.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO carrying a 2024 guideline value range from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which aligns with the guideline value of North Kulakkarai Street.

• Office Venkatachala Mudali St: Rs 6,600 per sq.ft (2024)
• Oil Monger Lane Chennai-5 & Chennai-14: Rs 6,600 per sq.ft (2024)
• Oil Monger Street Chennai-5 & Chennai-14: Rs 6,600 per sq.ft (2024)
• Ovuliya Saheb 1st Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ovuliya Saheb 3rd Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in North Kulakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers North Kulakkarai Street?

The Sub Registrar Office that covers North Kulakkarai Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of North Kulakkarai Street?

The current guideline value of North Kulakkarai Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 300% from Rs 1,650 per sq.ft to Rs 6,600 per sq.ft in 2024.

What is the land classification of North Kulakkarai Street?

North Kulakkarai Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for North Kulakkarai Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in North Kulakkarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.