Guideline Value for Y.M.C.A. Street

Y.M.C.A. Street guideline value

The current guideline value of Y.M.C.A. Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Y.M.C.A. Street has changed

The guideline value of Y.M.C.A. Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This figure saw a significant increase to Rs 3,100 per sq.ft in 2012, marking a rise of 520%. However, in 2017, the value adjusted downwards to Rs 2,077 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 3,100 per sq.ft in 2023, and most recently, it reached Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 580%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO carrying a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is the same as the guideline value for Y.M.C.A. Street. Below are other streets in Satthankadu with their respective guideline values:

• West Mada Street: Rs 3,400 per sq.ft (2024)
• V.O.C Streets: Rs 3,400 per sq.ft (2024)
• Vivekanadan street: Rs 3,400 per sq.ft (2024)
• Village Street: Rs 3,400 per sq.ft (2024)
• Veera raghavan street: Rs 3,400 per sq.ft (2024)
• Vasantha Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Y.M.C.A. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. 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 Y.M.C.A. Street?

The Y.M.C.A. Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value is updated periodically, reflecting changes in the property market. This ensures that the values remain relevant and in line with current market conditions, aiding in fair transactions.

Frequently asked questions

What is the current guideline value of Y.M.C.A. Street?

The current guideline value of Y.M.C.A. Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 580%.

What is the classification of land on Y.M.C.A. Street?

The land on Y.M.C.A. Street is classified as Residential Special Type - III.

Which Sub Registrar Office covers Y.M.C.A. Street?

The Thiruvottiyur Sub Registrar Office covers Y.M.C.A. Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for property in Y.M.C.A. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at 7%.