Guideline Value for YADAVAL STREET

Yadaval Street guideline value

The current guideline value of Yadaval Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Yadaval Street has changed

The guideline value for Yadaval Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,010 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft as of 2024. The median value for these streets is Rs 2,200 per sq.ft, placing Yadaval Street's 2024 figure above that median.

• Wipro Road (Omr): Rs 5,500 per sq.ft (2024)
• Wipro Co. (Sez) (Wipro Ltd.,): Rs 5,500 per sq.ft (2024)
• V.O.C.Street: Rs 3,900 per sq.ft (2024)
• Vivkanathan Garden: Rs 1,700 per sq.ft (2024)
• Vishnu Garden: Rs 1,000 per sq.ft (2024)
• Village Road 1st Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Yadaval Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total costs would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yadaval Street?

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. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process of property transactions in Sholinganallur - 1. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property sales.

When buying or selling property, the guideline value helps determine the legal value of the property, which can affect the buyer's and seller's obligations during the registration process. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Yadaval Street?

The current guideline value of Yadaval Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the stamp duty rate for properties in Yadaval Street?

The stamp duty rate for properties in Yadaval Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft, with the median value being Rs 2,200 per sq.ft.