Guideline Value for KUYAVAR 2ND LANE

Kuyavar 2nd Lane guideline value

The current guideline value of Kuyavar 2nd 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, and is classified as Residential Class III Type - I.

How the guideline value of Kuyavar 2nd Lane has changed

The guideline value for Kuyavar 2nd 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 increase of 11%. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2007, a change of 137%. The 2012 revision saw the value at Rs 5,000 per sq.ft, which was a 100% increase from the previous figure. However, in 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a decline of 33%. The guideline value then increased to Rs 5,000 per sq.ft in 2023, and finally reached Rs 5,500 per sq.ft in 2024, representing a 10% increase from the previous year.

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

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, 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 2nd Lane's 2024 figure below that median.

• Kuyavar 1st 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 2nd 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 fees to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuyavar 2nd Lane?

The Kuyavar 2nd Lane is covered by 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

The guideline value is an important factor when registering property in Mambalam. It serves as a benchmark for calculating stamp duty and registration fees, which are required during the transfer of property ownership.

When a property is bought or sold, the guideline value is used to determine the applicable fees, ensuring that both parties adhere to the legal requirements set by the registration authorities.

Frequently asked questions

What is the current guideline value of Kuyavar 2nd Lane?

The current guideline value of Kuyavar 2nd 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%.

What is the stamp duty rate for property in Kuyavar 2nd Lane?

The stamp duty rate for property in Kuyavar 2nd Lane is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Mambalam?

The Thiyagaraya nagar Sub Registrar Office handles property registrations in Mambalam.

What is the median guideline value for streets in Mambalam?

The median guideline value for streets in Mambalam is Rs 6,600 per sq.ft, which is higher than the current value of Kuyavar 2nd Lane.