Guideline Value for Yathaval Street 1st Cross Street

Yathaval Street 1st Cross Street guideline value

The current guideline value of Yathaval Street 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Yathaval Street 1st Cross Street has changed

The guideline value for Yathaval Street 1st Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 275 per sq.ft, which increased to Rs 305 per sq.ft in 2003. Following this, the value rose sharply to Rs 750 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally, it stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, from 2002 to 2024, there has been an overall increase of 1100%. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The most notable increase occurred from 2007 to 2012, with a rise of 300%, and from 2003 to 2007, which saw an increase of 146%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Yathaval Street 1st Cross Street's 2024 figure of Rs 3,300 per sq.ft is below this median.

• Yathaval Street: Rs 2,750 per sq.ft (2024)
• Yathaval Street 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street Extension: Rs 3,300 per sq.ft (2024)
• Yerrikkarai Street: Rs 3,250 per sq.ft (2024)
• West Vanniyar Street 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Yathaval Street 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 Yathaval Street 1st Cross Street?

The Yathaval Street 1st Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that all transactions are transparent and reflect the prevailing market conditions as indicated by the guideline values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Yathaval Street 1st Cross Street?

The current guideline value of Yathaval Street 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 275 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1100% over this period.

What is the land classification of Yathaval Street 1st Cross Street?

Yathaval Street 1st Cross Street is classified as Residential Class IV Type - I.

Where can I find the registration office for Yathaval Street 1st Cross Street?

The registration office for Yathaval Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Yathaval Street 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.