Guideline Value for South Kulakarai Street

South Kulakarai Street guideline value

The current guideline value of South Kulakarai Street is Rs 2,200 per sq.ft. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of South Kulakarai Street has changed

The guideline value for South Kulakarai Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following this, the value surged to Rs 1,340 per sq.ft in 2017, marking a substantial increase of 283%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value for South Kulakarai Street is below this median.

• South Mada Street: Rs 2,200 per sq.ft (2024)
• SreeKrishna 1st Street: Rs 1,320 per sq.ft (2024)
• SreeKrishna 2st Street: Rs 1,320 per sq.ft (2024)
• Sreepuram 3rd Cross Street: Rs 3,080 per sq.ft (2024)
• Sivaraj Street Extn 3rd Street: Rs 2,420 per sq.ft (2024)
• Sivaraj Street Extn 2nd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in South Kulakarai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers South Kulakarai Street?

The Sub Registrar Office that covers South Kulakarai 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 Thiruneermalai

The guideline value is a crucial factor in property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, the guideline value serves as a baseline for calculating costs. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of South Kulakarai Street?

The current guideline value of South Kulakarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 605% over this period.

What are the stamp duty rates for properties in South Kulakarai Street?

The stamp duty for properties in South Kulakarai Street is set at 7% of the guideline value or sale price, whichever is higher.

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

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

What is the land classification for South Kulakarai Street?

South Kulakarai Street is classified as Residential Class I Type - II, indicating its suitability for residential development.