Guideline Value for Yahiya Ali 3rd Street

Yahiya Ali 3rd Street guideline value

The current guideline value of Yahiya Ali 3rd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, 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 3rd Street has changed

The guideline value for Yahiya Ali 3rd Street has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded a guideline value of Rs 7,000 per sq.ft, which increased to Rs 7,700 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the most recent revisions show a consistent increase in the guideline value. The 2024 figure of Rs 7,700 per sq.ft is a reflection of the latest adjustments made by the authorities.

Guideline values in Mylapore Part 2

Within Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Yahiya Ali 3rd Street's 2024 figure is below the median.

• Yahiya Ali 2nd Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 1st 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 3rd 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, totaling Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Yahiya Ali 3rd Street?

The Sub Registrar Office that covers Yahiya Ali 3rd 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When finalizing a sale, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yahiya Ali 3rd Street?

The current guideline value of Yahiya Ali 3rd 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 3rd Street has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a +10% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, indicating that Yahiya Ali 3rd Street's value is below this median.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Yahiya Ali 3rd Street?

The Sub Registrar Office for Yahiya Ali 3rd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.