Guideline Value for KUYAVAR STREET

Kuyavar Street guideline value

The current guideline value of Kuyavar Street, located in Mambalam village under the Thiyagaraya nagar SRO, is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Kuyavar Street has changed

The guideline value of Kuyavar Street has seen significant changes over the years. In 2002, the guideline value was Rs 953 per sq.ft, which increased to Rs 1,057 per sq.ft in 2003, marking an 11% rise. The value continued to climb, reaching Rs 2,500 per sq.ft in 2007, a substantial increase of 137%. By 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a remarkable 260% growth from the previous revision. However, it then decreased to Rs 6,030 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the value increased significantly to Rs 9,000 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the years between these revisions for Kuyavar Street.

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, with a median of Rs 6,600 per sq.ft. Kuyavar Street's 2024 guideline value is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees together to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuyavar Street?

Kuyavar Street falls under the jurisdiction of the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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 minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuyavar Street?

The current guideline value of Kuyavar Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 953 per sq.ft in 2002 and reaching Rs 9,900 per sq.ft in 2024. The highest increase occurred between 2007 and 2012, where it rose by 260%.

What is the land classification for Kuyavar Street?

Kuyavar Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 8,91,000 based on the current guideline value.

Where is the Sub Registrar Office for Kuyavar Street located?

The Thiyagaraya nagar Sub Registrar Office, which covers Kuyavar Street, is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.