Guideline Value for Yathaval Street 2nd Cross Street

Yathaval Street 2nd Cross Street guideline value

The current guideline value of Yathaval Street 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Yathaval Street 2nd Cross Street has changed

The guideline value for Yathaval Street 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 305 per sq.ft in 2003. Following this, the value rose significantly to Rs 991 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, there was a decline to Rs 2,010 per sq.ft in 2017, before it increased again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft.

From 2023 to 2024, the guideline value increased by 10%. The period from 2017 to 2023 saw a notable rise of 49%. The 2012 to 2017 period experienced a decrease of 33%, while the increase from 2007 to 2012 was 203%. The value escalated by 225% from 2003 to 2007, and there was an 11% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1100%.

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. The guideline value for Yathaval Street 2nd Cross Street is below this median.

• Yathaval Street 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street: Rs 2,750 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, making the total cost together Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Yathaval Street 2nd Cross Street?

The Sub Registrar Office that covers Yathaval Street 2nd Cross Street is 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 when buying or selling property in Virugambakkam, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Yathaval Street 2nd Cross Street?

The current guideline value of Yathaval Street 2nd 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 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Yathaval Street 2nd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for Yathaval Street 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Virugambakkam?

The guideline value is determined by the Registration Department and reflects the minimum value for property registration in the area. It is updated periodically based on various factors and revisions.