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 Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Yerikkarai Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 400 per sq.ft, which was then revised to Rs 268 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are noteworthy, with a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Potheri

In Potheri, there are 129 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Yerikkarai Street's 2024 figure below this median.

• White Town Villas: Rs 2,200 per sq.ft (2024)
• 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 1,651 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): 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 rate of Rs 440 per sq.ft, the guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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, 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 Potheri

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the duties.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations. It helps in assessing the financial obligations involved in property transactions, thereby facilitating a smoother registration process.

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 seen several revisions, with the most recent being an increase from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Yerikkarai Street?

Yerikkarai Street falls under the land classification of Residential Class II Type - II.

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

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

How are stamp duty and registration fees calculated for properties in Potheri?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 4,40,000, the total stamp duty and registration fee would amount to Rs 39,600.