Guideline Value for Sri Yogeshwari Nagar II

Sri Yogeshwari Nagar II guideline value

The current guideline value of Sri Yogeshwari Nagar II is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Sri Yogeshwari Nagar II has changed

The guideline value for Sri Yogeshwari Nagar II has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision further raised it to Rs 1,300 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, making the guideline value of Sri Yogeshwari Nagar II below the median.

• Sri Yogeshwari Nagar I: Rs 1,300 per sq.ft (2024)
• Sri Yogeswara Nagar III: Rs 1,300 per sq.ft (2024)
• S.S. Sabai Colony: Rs 1,900 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 2,700 per sq.ft (2024)
• Sudar Avenue: Rs 2,150 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Yogeshwari Nagar II

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 is charged at 7%, which equals Rs 91,000, and the registration fee is charged at 2%, amounting to Rs 26,000. Together, the total cost for stamp duty and registration fee would be Rs 1,17,000. 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 Sri Yogeshwari Nagar II?

The Sub Registrar Office that covers Sri Yogeshwari Nagar II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Rajakilpakkam. When you buy or sell a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value is set by the government and is regularly revised to reflect changes in the real estate market.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in avoiding legal complications in the future.

Frequently asked questions

What is the current guideline value of Sri Yogeshwari Nagar II?

The current guideline value of Sri Yogeshwari Nagar II 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Sri Yogeshwari Nagar II?

Sri Yogeshwari Nagar II is classified as Residential Class II Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Sri Yogeshwari Nagar II located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.