Guideline Value for Yahiya Ali 2nd Street

Yahiya Ali 2nd Street guideline value

The current guideline value of Yahiya Ali 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Yahiya Ali 2nd Street has changed

The guideline value for Yahiya Ali 2nd Street has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft. The latest revision in 2024 shows an increase to Rs 7,700 per sq.ft, reflecting a change of +10% from the previous year.

In summary, the guideline values for this street have changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This increase indicates a shift in the valuation of properties in the area, aligning with the current market conditions.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making the 2024 figure for Yahiya Ali 2nd Street below this median.

• Yahiya Ali 1st Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 3rd Street: Rs 7,700 per sq.ft (2024)
• West End Street: Rs 8,700 per sq.ft (2024)
• V.V.Koil Lane: Rs 8,700 per sq.ft (2024)
• V.O.C. Street: Rs 7,700 per sq.ft (2024)
• Venkatarathinam Salai: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Yahiya Ali 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Yahiya Ali 2nd Street?

The Sub Registrar Office that covers Yahiya Ali 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mylapore Part 2, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Yahiya Ali 2nd Street?

The current guideline value of Yahiya Ali 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Yahiya Ali 2nd Street was Rs 7,000 per sq.ft in 2023 and increased to Rs 7,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Yahiya Ali 2nd Street's 2024 figure of Rs 7,700 per sq.ft is below this median.

What are the stamp duty rates applicable for properties in Yahiya Ali 2nd Street?

The stamp duty rate for properties in Yahiya Ali 2nd Street is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for Yahiya Ali 2nd Street located?

The Sub Registrar Office for Yahiya Ali 2nd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.