Guideline Value for VENKATA PERUMAL KULAKARAI STREET

Venkata Perumal Kulakarai Street guideline value

The current guideline value of Venkata Perumal Kulakarai Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of Venkata Perumal Kulakarai Street has changed

The guideline value for Venkata Perumal Kulakarai Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, this figure then decreased to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the most recent 2024 revision set it at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 443%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Venkata Perumal Kulakarai Street is below this median.

• Venkata Perumal Street: Rs 3,300 per sq.ft (2024)
• Venkatakrishna Nagar Ivth Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar Iind Street: Rs 4,400 per sq.ft (2024)
• Venkatakrishna Nagar III Rd Street: Rs 4,400 per sq.ft (2024)
• Veena Garden: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkata Perumal Kulakarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Venkata Perumal Kulakarai Street?

The Sub Registrar Office that covers Venkata Perumal Kulakarai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial reference point used during property registration in Arumbakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the land records.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Venkata Perumal Kulakarai Street?

The current guideline value of Venkata Perumal Kulakarai Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an increase of 443% overall.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 38,00,000, with stamp duty at Rs 2,66,000 and registration fees at Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Venkata Perumal Kulakarai Street?

The Kodambakkam Sub Registrar Office handles registrations for Venkata Perumal Kulakarai Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Venkata Perumal Kulakarai Street?

The land classification for Venkata Perumal Kulakarai Street is Residential Class IV Type - III.