Guideline Value for YERIKKARAI STREET (WARD -1)

Yerikkarai Street (Ward -1) guideline value

The current guideline value of Yerikkarai Street (Ward -1) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Yerikkarai Street (Ward -1) has changed

The guideline value for Yerikkarai Street has seen several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which was then revised to Rs 268 per sq.ft in 2017. This represented a decrease of 33%. Subsequently, in 2023, the value increased to Rs 400 per sq.ft, and in the latest revision for 2024, it rose to Rs 440 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The significant change occurred between 2017 and 2023, where the value jumped by 49% from Rs 268 per sq.ft to Rs 400 per sq.ft.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that the 2024 guideline value for Yerikkarai Street is below this median.

• V.O.C Street (Ward-20): Rs 880 per sq.ft (2024)
• Vivekananthar Street (Ward-21): Rs 660 per sq.ft (2024)
• Vishnupriya Priya Avenue Ninnakarai: Rs 1,650 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikkarai Street (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Yerikkarai Street (Ward -1)?

The Sub Registrar Office that covers Yerikkarai Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the current market conditions and provides a standard for property transactions.

Frequently asked questions

What is the current guideline value of Yerikkarai Street (Ward -1)?

The current guideline value of Yerikkarai Street (Ward -1) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Yerikkarai Street?

Yerikkarai Street is classified as Residential Class II Type - II under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Yerikkarai Street?

The Sub Registrar Office for Yerikkarai Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Yerikkarai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.