Guideline Value for YERIKKARAI STREET (WARD -3)

Yerikkarai Street (Ward -3) guideline value

The current guideline value of Yerikkarai Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Yerikkarai Street (Ward -3) has changed

The guideline value for Yerikkarai Street has seen several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and most recently to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, which is equal to the 2024 figure for Yerikkarai Street.

• Yadavar Street (Ward -19): Rs 550 per sq.ft (2024)
• V.O.Sithamparanar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• V.O.C Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 661 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikkarai Street (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the guideline value totals Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the 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 more details.

Which Sub Registrar Office covers Yerikkarai Street (Ward -3)?

Yerikkarai Street (Ward -3) falls under 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 Panangottur

The guideline value is a crucial factor when registering property transactions in Panangottur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and compliance with local regulations. Buyers should be aware of the guideline value to avoid underreporting the sale price, which can lead to legal complications.

Frequently asked questions

What is the current guideline value of Yerikkarai Street (Ward -3)?

The current guideline value of Yerikkarai Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Yerikkarai Street?

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

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

The Sub Registrar Office covering Yerikkarai Street (Ward -3) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Panangottur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.