Guideline Value for South Kulakkarai Street

South Kulakkarai Street guideline value

The current guideline value of South Kulakkarai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of South Kulakkarai Street has changed

The guideline value of South Kulakkarai Street has seen several revisions over the years. The oldest recorded figure is from 2007, where the value was Rs 1,650 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a substantial rise of 264%. However, the value dropped to Rs 4,020 per sq.ft in 2017, representing a decrease of 33%. The most recent revision in 2024 brought the value up to Rs 6,600 per sq.ft, an increase of 64% from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value of South Kulakkarai Street.

• South Mada Street: Rs 6,600 per sq.ft (2024)
• Somu Street: Rs 7,700 per sq.ft (2024)
• Smith Street: Rs 13,200 per sq.ft (2024)
• Siyali Koil Street: Rs 6,600 per sq.ft (2024)
• Siyali Koil Lane: Rs 6,600 per sq.ft (2024)
• Sivaraman Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in South 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 to Rs 5,94,000. 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 South Kulakkarai Street?

The Sub Registrar Office that covers South 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This system helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of South Kulakkarai Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 300% over these years.

What is the registration office for South Kulakkarai Street?

The registration office for South 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 South 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 a rate of 7%.

What are the other streets with the same guideline value in Triplicane?

Other streets in Triplicane with the same guideline value of Rs 6,600 per sq.ft include South Mada Street, Siyali Koil Street, Siyali Koil Lane, and Sivaraman Street.