Guideline Value for YAMUNA STREET

Yamuna Street guideline value

The current guideline value of Yamuna Street in Nemilicherry village, under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Yamuna Street has changed

The guideline value for Yamuna Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 has brought it to Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2017, there was a decline of 33%, while the period from 2017 to 2023 saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is equal to the guideline value of Yamuna Street.

• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Visweswaran Back Street: Rs 2,160 per sq.ft (2024)
• Vigneshwara Nagar: Rs 2,200 per sq.ft (2024)
• Vempuliamman Nagar: Rs 2,200 per sq.ft (2024)
• Veerasidhi Vinayaga Koil Street: Rs 2,420 per sq.ft (2024)
• Vanchinathan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Yamuna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty, charged at 7%, would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Yamuna Street?

The Sub Registrar Office that covers Yamuna Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nemilicherry. It is used to determine the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale process.

When buyers and sellers engage in a transaction, the guideline value is referenced to calculate applicable fees such as stamp duty and registration fees. This ensures a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Yamuna Street?

The current guideline value of Yamuna Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Yamuna Street?

The land classification for Yamuna Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in Yamuna Street?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Where is the Sub Registrar Office for Yamuna Street located?

The Sub Registrar Office for Yamuna Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.