Guideline Value for YASOTHA NAGAR EXTENSION

Yasotha Nagar Extension guideline value

The current guideline value of Yasotha Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Yasotha Nagar Extension has changed

The guideline value for Yasotha Nagar Extension has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This figure drastically increased to Rs 2,000 per sq.ft in the 2012 revision, marking a significant rise of 700%. The value remained unchanged at Rs 2,000 per sq.ft until the 2023 revision, which also did not see any change. However, in 2024, the guideline value increased to Rs 2,100 per sq.ft, reflecting a 5% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value for Yasotha Nagar Extension is 740%, moving from Rs 250 per sq.ft to Rs 2,100 per sq.ft. Notably, the revisions for the years 2017, 2003, and 2002 do not have any figures recorded for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Yasotha Nagar Extension's 2024 figure below this median.

• Yasotha Nagar: Rs 2,500 per sq.ft (2024)
• Yes Esi Lake Front: Rs 2,700 per sq.ft (2024)
• Water Canal Road: Rs 3,300 per sq.ft (2024)
• V.P.C.NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• V.P.C.NAGAR 1st STREET: Rs 1,600 per sq.ft (2024)
• V.M.T.Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Yasotha Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, while the registration fee at 2% would be Rs 42,000, bringing the total fees together to Rs 1,89,000. 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 Yasotha Nagar Extension?

The Yasotha Nagar Extension is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transfers.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the stamp duty and registration fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Yasotha Nagar Extension?

The current guideline value of Yasotha Nagar Extension is Rs 2,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 2,100 per sq.ft in 2024, representing an overall increase of 740%.

What is the land classification for Yasotha Nagar Extension?

The land classification for Yasotha Nagar Extension is Residential Class III Type - I.

What is the stamp duty rate for properties in Yasotha Nagar Extension?

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

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.