Guideline Value for Yashwanth Nagar Extension 2nd Cross Street

Yashwanth Nagar Extension 2nd Cross Street guideline value

The current guideline value of Yashwanth Nagar Extension 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Yashwanth Nagar Extension 2nd Cross Street has changed

In the 2012 revision, the guideline value for Yashwanth Nagar Extension 2nd Cross Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes from the 2023 to 2024 revision indicate a positive adjustment of 10% as well, marking a significant update for property transactions in this area.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing Yashwanth Nagar Extension 2nd Cross Street above this median at Rs 2,750 per sq.ft.

• Yashwanth Nagar Extension 1st Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar Extension 2nd Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar Extension 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar Extension 3rd Street: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar East Main Road: Rs 2,750 per sq.ft (2024)
• Yashwanth Nagar Extension Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Yashwanth Nagar Extension 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Yashwanth Nagar Extension 2nd Cross Street?

The Yashwanth Nagar Extension 2nd Cross Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a critical factor in property transactions in Madambakkam, as it determines the minimum price at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value, as it ensures compliance with legal requirements and helps in avoiding disputes related to property valuation. Buyers and sellers should consider this value when negotiating sale prices to ensure that the transaction is conducted smoothly.

Frequently asked questions

What is the current guideline value of Yashwanth Nagar Extension 2nd Cross Street?

The current guideline value of Yashwanth Nagar Extension 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023 and then increased to Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year.

What is the land classification for Yashwanth Nagar Extension 2nd Cross Street?

The land classification for Yashwanth Nagar Extension 2nd Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.