Guideline Value for WEST KULAKKARAI STREET

West Kulakkarai Street guideline value

The current guideline value of West Kulakkarai Street is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village under the Thiruvottiyur SRO, and the land classification is Mixed Special Type - II.

How the guideline value of West Kulakkarai Street has changed

The guideline value for West Kulakkarai Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,400 per sq.ft in 2012. However, this value decreased to Rs 2,278 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,400 per sq.ft, followed by the current value of Rs 3,700 per sq.ft from the 2024 revision.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 467%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 9%. The overall change from 2007 to 2024 is an increase of 517%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of West Kulakkarai Street is above this median.

• West Mada Street: Rs 3,300 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,900 per sq.ft (2024)
• Vivekanandan Street: Rs 3,700 per sq.ft (2024)
• Vinayagapuram: Rs 2,800 per sq.ft (2024)
• Village Street: Rs 3,700 per sq.ft (2024)
• Verkadalai Cheri: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in West Kulakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value is Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, making the total cost Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Kulakkarai Street?

The Sub Registrar Office that covers West Kulakkarai Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that all property transactions are fairly assessed and documented according to the prevailing guidelines.

Frequently asked questions

What is the current guideline value of West Kulakkarai Street?

The current guideline value of West Kulakkarai Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,700 per sq.ft in 2024, reflecting an overall increase of 517% over this period.

What are the other streets in Thiruvottiyur with their guideline values?

Other streets in Thiruvottiyur include West Mada Street at Rs 3,300 per sq.ft, V.O.C. Nagar at Rs 1,900 per sq.ft, Vivekanandan Street at Rs 3,700 per sq.ft, Vinayagapuram at Rs 2,800 per sq.ft, Village Street at Rs 3,700 per sq.ft, and Verkadalai Cheri at Rs 2,150 per sq.ft.

What are the stamp duty and registration fees for property in West Kulakkarai Street?

The stamp duty for a 1,000 sq.ft plot at the current guideline value is Rs 2,59,000, and the registration fee is Rs 74,000, totaling Rs 3,33,000.

Which office handles registrations for West Kulakkarai Street?

The Thiruvottiyur Sub Registrar Office handles registrations for West Kulakkarai Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.