Guideline Value for YASOTHA NAGAR

Yasotha Nagar guideline value

The current guideline value of Yasotha Nagar is Rs 2,500 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 II Type - III.

How the guideline value of Yasotha Nagar has changed

The guideline value for Yasotha Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,300 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,300 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register 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, making Yasotha Nagar's 2024 figure equal to this median.

• Yasotha Nagar Extension: Rs 2,100 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees together to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yasotha Nagar?

The Sub Registrar Office that covers Yasotha Nagar is 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 information.

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

When buying or selling property in Korattur, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. The guideline value is set by the government and is used as a benchmark for calculating these fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Yasotha Nagar?

The current guideline value of Yasotha Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value increased from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, which is a 9% increase. Overall, from 2012 to 2024, the increase is also 9%.

What is the land classification of Yasotha Nagar?

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

Which office handles property registrations in Yasotha Nagar?

The Villivakkam Sub Registrar Office handles property registrations in Yasotha Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Yasotha Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 25,00,000, the stamp duty at 7% would amount to Rs 1,75,000.