Guideline Value for YADAVAL STREET (Near OMR)

YADAVAL STREET (Near OMR) guideline value

The current guideline value of YADAVAL STREET (Near OMR) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of YADAVAL STREET (Near OMR) has changed

The guideline value for YADAVAL STREET has seen significant changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, placing YADAVAL STREET's 2024 figure above that median.

• V.O.C Street: Rs 1,700 per sq.ft (2024)
• Vijay Enclave: Rs 4,100 per sq.ft (2024)
• Vijaya Rajeswari Garden II: Rs 1,700 per sq.ft (2024)
• Vijaya Rajaeswari Garden I: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi Garden: Rs 1,100 per sq.ft (2024)
• Venkatesan Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in YADAVAL STREET (Near OMR)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. 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 YADAVAL STREET (Near OMR)?

The Sub Registrar Office that covers YADAVAL STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chemmancheri. When you buy or sell property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important to ensure that the sale price is at least equal to the guideline value, as the duty is charged on the higher of the two. This ensures compliance with local regulations and helps in accurately documenting the transaction.

Frequently asked questions

What is the current guideline value of YADAVAL STREET (Near OMR)?

The current guideline value of YADAVAL STREET (Near OMR) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, with YADAVAL STREET's 2024 figure being above this median.

What are the stamp duty and registration fees for YADAVAL STREET?

For a property valued at Rs 28,00,000, the stamp duty is Rs 1,96,000, and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for YADAVAL STREET?

The Neelankarai Sub Registrar Office handles registrations for YADAVAL STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.