Guideline Value for WEST KULAKARI VEETHI

West Kulakari Veethi guideline value

The current guideline value of West Kulakari Veethi is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of West Kulakari Veethi has changed

The guideline value for West Kulakari Veethi has seen several revisions over the years. In 2012, the value was Rs 6,500 per sq.ft, which decreased by 33% to Rs 4,355 per sq.ft in 2017. The value then rose significantly by 49% to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 has increased the value by 10% to Rs 7,150 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a guideline value range from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing West Kulakari Veethi's 2024 figure below that median.

• West Mada Veethi: Rs 7,150 per sq.ft (2024)
• West Tankview Street: Rs 7,150 per sq.ft (2024)
• Watter Land Drive: Rs 11,000 per sq.ft (2024)
• Yamuna Street: Rs 11,000 per sq.ft (2024)
• Vikram Sarabai Instronics Estate: Rs 12,650 per sq.ft (2024)
• Vembuli Amman Kovil Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in West Kulakari Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Kulakari Veethi?

The Sub Registrar Office that covers West Kulakari Veethi is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When purchasing property, the guideline value helps determine the minimum price at which a property can be sold. This ensures that the transaction is recorded accurately for tax purposes and provides a transparent framework for property dealings.

Frequently asked questions

What is the current guideline value of West Kulakari Veethi?

The current guideline value of West Kulakari Veethi is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, which is above the current value of West Kulakari Veethi.

What are the stamp duty and registration fees for property in West Kulakari Veethi?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles property registration for West Kulakari Veethi?

The Chennai South Joint I Sub Registrar Office handles property registration for West Kulakari Veethi, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.