Guideline Value for Yathaval Street Extension

Yathaval Street Extension guideline value

The current guideline value of Yathaval Street Extension 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 Extension has changed

The guideline value for Yathaval Street Extension has undergone several revisions over the years. The 2007 revision set the value at Rs 1,700 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 76% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The change from 2023 to 2024 was an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 94%. The register has no figures for the years 2002 and 2003 for this street.

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 Extension's current value is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Yathaval Street Extension?

The Sub Registrar Office that covers Yathaval Street Extension 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 plays a crucial role in the registration process of property transactions in Virugambakkam. It is used as a benchmark to determine the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value serves as a reference point to ensure that the transaction is documented at a value that reflects the local market conditions. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Yathaval Street Extension?

The current guideline value of Yathaval Street Extension 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 1,700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 94% over the years.

What is the land classification for Yathaval Street Extension?

Yathaval Street Extension is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Yathaval Street Extension?

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

How is stamp duty calculated for properties in Yathaval Street Extension?

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 the rate of 7%.