Guideline Value for KUYAVAR 1ST LANE

Kuyavar 1st Lane guideline value

The current guideline value of Kuyavar 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Kuyavar 1st Lane has changed

The guideline value of Kuyavar 1st Lane has seen several revisions over the years. In 2002, the value was Rs 953 per sq.ft, which increased to Rs 1,057 per sq.ft in 2003, marking an 11% rise. The value then saw a significant jump of 137% to Rs 2,500 per sq.ft in 2007. Following this, the value doubled to Rs 5,000 per sq.ft in 2012, reflecting a 100% increase. However, it decreased by 33% to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft after a 10% increase in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 477%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mambalam

Mambalam village features 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Kuyavar 1st Lane's 2024 figure below this median.

• Kuyavar 2nd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 3rd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar Street: Rs 9,900 per sq.ft (2024)
• Lake View Road: Rs 9,900 per sq.ft (2024)
• Kuppiah Chetty Street: Rs 12,100 per sq.ft (2024)
• Kumaran Colony 2nd Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kuyavar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuyavar 1st Lane?

The Sub Registrar Office that covers Kuyavar 1st Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

When buying or selling property in Mambalam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

The guideline value is used to assess the official value of the property, which is necessary for the registration of sale deeds. This ensures that all transactions are recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kuyavar 1st Lane?

The current guideline value of Kuyavar 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 953 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 477% over the years.

What are the stamp duty and registration fees for property in Kuyavar 1st Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Kuyavar 1st Lane?

Kuyavar 1st Lane is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

Where can I find more information about guideline values in Mambalam?

More information about guideline values in Mambalam can be found in the registration department's guideline value register (TNReginet) and through the links provided for other streets in Mambalam.