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 Vallancheri 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, when the guideline value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 400 per sq.ft in 2023, and further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for Yerikkarai Street in the revisions of 2002, 2003, and 2007. The changes from 2017 to 2023 represent a substantial increase of 49%, indicating a notable adjustment in the guideline value during this period.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Yerikkarai Street's 2024 figure 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 the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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 Vallancheri

The guideline value is a crucial factor when registering property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated based on an established standard.

When buying or selling property, the guideline value helps in assessing the fair value of the property being transacted. It is essential for both buyers and sellers to be aware of the current guideline values to ensure compliance with registration requirements and to avoid any disputes during the transaction 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 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.

What is the land classification of Yerikkarai Street (Ward -1)?

Yerikkarai Street (Ward -1) is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600. These fees are based on the guideline value.

Which office handles registrations for Yerikkarai Street (Ward -1)?

The Chengleput Joint II Sub Registrar Office handles registrations for Yerikkarai Street (Ward -1), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.