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 Thailavaram village under the Chengleput Joint II SRO, and it falls under the Residential Class II Type - II land classification.

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

The guideline value for Yerikkarai Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. The value then increased significantly to Rs 400 per sq.ft in 2023, and most recently, it rose to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. Yerikkarai Street's 2024 guideline value is below this median.

• V.O.C Street (Ward-20): Rs 881 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 would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Thailavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from 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 increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024. The overall change from 2012 to 2024 is a 10% increase.

What is the land classification for Yerikkarai Street?

Yerikkarai Street is classified under Residential Class II Type - II land classification.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How are stamp duty and registration fees calculated in Thailavaram?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800.