Guideline Value for YAFA SPRINGS

Yafa Springs guideline value

The current guideline value of Yafa Springs, located in Vengaivasal village under the Selaiyur SRO, is Rs 3,700 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Yafa Springs has changed

The guideline value for Yafa Springs has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,500 per sq.ft, which was an increase from the previous figure. The latest revision in 2024 raised the value to Rs 3,700 per sq.ft, marking a 6% increase from the 2023 figure.

This upward adjustment reflects the current market conditions and land classification, positioning Yafa Springs above the median guideline value for Vengaivasal streets. The median guideline value for 2024 across 117 streets in Vengaivasal is Rs 2,700 per sq.ft, making Yafa Springs' value notably higher.

Guideline values in Vengaivasal

In Vengaivasal, the guideline values for various streets range from Rs 850 to Rs 4,800 per sq.ft, with Yafa Springs being above the median value. Below are the guideline values for other streets in Vengaivasal:

• V.S. Naidu Nagar: Rs 2,200 per sq.ft (2024)
• Viswanathanpuram: Rs 2,700 per sq.ft (2024)
• Vishwanathapuram: Rs 2,700 per sq.ft (2024)
• Vishvanathanagar: Rs 2,700 per sq.ft (2024)
• Visalakshi Nagar: Rs 2,700 per sq.ft (2024)
• Vinayaga Nagar Part-I: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Yafa Springs

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total cost for these fees to Rs 3,33,000. 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 Yafa Springs?

The Sub Registrar Office that covers Yafa Springs 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 Vengaivasal

The guideline value is a crucial factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated accurately based on the current market conditions.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property, ensuring compliance with local regulations. It is essential for buyers and sellers to be aware of these values to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Yafa Springs?

The current guideline value of Yafa Springs is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Yafa Springs has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,700 per sq.ft in 2024, reflecting a 6% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Yafa Springs?

Yafa Springs is classified as Commercial Class I Type - I, which indicates its zoning for commercial activities.

What are the stamp duty and registration fees for property in Yafa Springs?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,33,000 based on the current guideline value.

Which office handles the registration for Yafa Springs?

The Selaiyur Sub Registrar Office handles registrations for Yafa Springs, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.