Guideline Value for Kuyavar Street

Kuyavar Street guideline value

The current guideline value of Kuyavar Street in Mannurpet village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class II Type - I.

How the guideline value of Kuyavar Street has changed

The guideline value for Kuyavar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 247 per sq.ft, which increased to Rs 272 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then it saw a substantial increase to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017 before climbing back to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 1,300 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2002 to 2003, followed by an increase of 84% from 2003 to 2007. The value then rose by 140% from 2007 to 2012, but it decreased by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, and the most recent change from 2023 to 2024 reflects an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 426%.

Guideline values in Mannurpet

Mannurpet village has a total of 38 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, which matches the current guideline value of Kuyavar Street.

• Lakshmi Amman Koil Street: Rs 1,700 per sq.ft (2024)
• Logappa Naidu Street: Rs 1,300 per sq.ft (2024)
• Malaiathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Manickam Pillai Street: Rs 1,300 per sq.ft (2024)
• Menambedu Main Road: Rs 2,300 per sq.ft (2024)
• Kamaraj Street II Cross Street: Rs 1,100 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000 for these charges. 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 is covered by the Konnur Sub Registrar Office located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Mannurpet. It is the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to determine the applicable duties. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kuyavar Street?

The current guideline value of Kuyavar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 247 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 426% over this period.

What is the land classification for Kuyavar Street?

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

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How do stamp duty and registration fees work in Mannurpet?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. It is essential for buyers and sellers to be aware of these charges to ensure compliance during property transactions.