Guideline Value for Yathaval Street 3rd Cross Street

Yathaval Street 3rd Cross Street guideline value

The current guideline value of Yathaval Street 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Yathaval Street 3rd Cross Street has changed

The guideline value for Yathaval Street 3rd Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 300%. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, a notable increase of 49%, and has now reached Rs 3,300 per sq.ft in the latest 2024 revision, representing a 10% increase.

It is important to note that there are no registered figures for Yathaval Street 3rd Cross Street in the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

Guideline values in Virugambakkam

Yathaval Street 3rd Cross Street's 2024 guideline value of Rs 3,300 per sq.ft is below the median value of Rs 4,400 per sq.ft for the 391 streets in Virugambakkam under the Virugambakkam SRO, which range from Rs 2,750 to Rs 13,200 per sq.ft.

• Yathaval Street 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street Extension: Rs 3,300 per sq.ft (2024)
• Yathaval Street 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street: Rs 2,750 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 3rd 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, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Yathaval Street 3rd Cross Street?

The Sub Registrar Office that covers Yathaval Street 3rd 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 an essential factor during property registration in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a competitive price.

Frequently asked questions

What is the current guideline value of Yathaval Street 3rd Cross Street?

The current guideline value of Yathaval Street 3rd 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 changed from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 340% over the years.

What is the stamp duty for properties in Yathaval Street 3rd Cross Street?

The stamp duty for properties in Yathaval Street 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Yathaval Street 3rd Cross Street?

The Sub Registrar Office for Yathaval Street 3rd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Yathaval Street 3rd Cross Street?

The land classification for Yathaval Street 3rd Cross Street is Residential Class IV Type - I.