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

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

The guideline value for Yerikkarai Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 900 per sq.ft. In 2017, it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor village, there are a total of 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Yerikkarai Street's 2024 figure below this median.

• Yadavar Street (Ward -19): Rs 660 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 1,100 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 total guideline value amounts to Rs 9,90,000. The stamp duty is charged at 7%, which equals Rs 69,300, and the registration fee is 2%, amounting to Rs 19,800. Therefore, the total cost for stamp duty and registration fee together is Rs 89,100. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Yerikkarai Street (Ward -3) 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 details.

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

The guideline value is crucial during the registration of property transactions in Peramanoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the established rates.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the overall cost of the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of Yerikkarai Street?

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 are the other streets in Peramanoor and their guideline values?

Other streets in Peramanoor have varying guideline values, with rates ranging from Rs 550 to Rs 2,200 per sq.ft. For example, Yadavar Street is Rs 660 per sq.ft, while V.O.Sithamparanar Salai is Rs 1,760 per sq.ft.

What are the stamp duty and registration fees for properties in Yerikkarai Street?

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300 and the registration fee is Rs 19,800, totaling Rs 89,100 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers Yerikkarai Street?

The Chengleput Joint II Sub Registrar Office covers Yerikkarai Street (Ward -3), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.