Guideline Value for KUYAVAR 3RD LANE

Kuyavar 3rd Lane guideline value

The current guideline value of Kuyavar 3rd 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 3rd Lane has changed

The guideline value for Kuyavar 3rd Lane has seen several revisions over the years. In 2002, the value was Rs 953 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2007, marking a rise of 162%. The value then jumped to Rs 5,000 per sq.ft in 2012, reflecting a 100% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The guideline value further increased to Rs 5,000 per sq.ft in 2023, and subsequently rose to the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 477%.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, placing Kuyavar 3rd Lane's 2024 figure below that median.

• Kuyavar 2nd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 1st 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 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuyavar 3rd Lane?

The Kuyavar 3rd Lane falls under 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 a crucial factor during the registration of property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kuyavar 3rd Lane?

The current guideline value of Kuyavar 3rd 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 are the other streets in Mambalam with similar guideline values?

Other streets in Mambalam with similar guideline values include Kuyavar 2nd Lane and Kuyavar 1st Lane, both at Rs 5,500 per sq.ft in 2024.

How is the stamp duty calculated for properties in Kuyavar 3rd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 3,85,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Kuyavar 3rd Lane?

The Sub Registrar Office for Kuyavar 3rd Lane is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find more information by visiting the relevant link.