Guideline Value for West Kulakkarai Street

West Kulakkarai Street guideline value

The current guideline value of West Kulakkarai Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of West Kulakkarai Street has changed

Over the years, the guideline value of West Kulakkarai Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which then increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has further increased the value to Rs 3,900 per sq.ft.

In terms of percentage changes, the value increased by 250% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The jump from 2023 to 2024 was an increase of 11%. Overall, from 2007 to 2024, the guideline value has risen by 290%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of West Kulakkarai Street.

• West Mada Street: Rs 4,400 per sq.ft (2024)
• West Mada Veedhi: Rs 4,400 per sq.ft (2024)
• Wood creek county Main: Rs 6,600 per sq.ft (2024)
• Wood creek county phase 2: Rs 6,600 per sq.ft (2024)
• Vempuliyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Vasanthacolony: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, these fees would total Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Kulakkarai Street?

The Sub Registrar Office that covers West Kulakkarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the property registration process in Nandhambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure they comply with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of West Kulakkarai Street?

The current guideline value of West Kulakkarai Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 290% over the years.

What is the land classification of West Kulakkarai Street?

West Kulakkarai Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for West Kulakkarai Street?

The Sub Registrar Office covering West Kulakkarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 3,51,000 in fees.