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, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

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 2007 revision, the value was Rs 600 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a rise of 233%. However, it then decreased to Rs 1,340 per sq.ft in the 2017 revision, a drop of 33%. The value continued to rise to Rs 2,000 per sq.ft in the 2023 revision, and now stands at Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft, with a median value of Rs 1,650 per sq.ft. South Kulakarai Street's 2024 guideline value is above this median.

• Singaravelar Street: Rs 1,100 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Srinivasan Street: Rs 1,650 per sq.ft (2024)
• Samiar Thottam: Rs 1,650 per sq.ft (2024)
• Station Road: Rs 2,200 per sq.ft (2024)
• Subramania Barathi Street: Rs 1,320 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 guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers South Kulakarai Street?

South Kulakarai 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

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 has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in South Kulakarai Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for South Kulakarai Street?

The Tambaram Joint 1 Sub Registrar Office at No.26, Mes Road, East Tambaram, Chennai-600059, handles property registrations for South Kulakarai Street.

What is the land classification for South Kulakarai Street?

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