Guideline Value for Yathaval Street

Yathaval Street guideline value

The current guideline value of Yathaval Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Yathaval Street has changed

The guideline value for Yathaval Street has seen several revisions over the years. In 2002, the guideline value was Rs 278 per sq.ft. This increased to Rs 308 per sq.ft in 2003, marking an 11% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, which was a 144% increase. Following this, the value surged to Rs 2,500 per sq.ft in 2012, reflecting a 233% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, which was a 33% drop. The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, a 10% increase.

There are no figures available for Yathaval Street for the years not mentioned in the revisions. The overall change from 2002 to 2024 shows an increase of 889% in the guideline value.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Yathaval Street's 2024 figure below this median.

• Yathaval Street 1st Cross Street: Rs 3,300 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

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, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yathaval Street?

The Sub Registrar Office that covers Yathaval 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 in property transactions in Virugambakkam. It determines the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Yathaval Street?

The current guideline value of Yathaval 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 changed from Rs 278 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 889% over this period.

What is the stamp duty rate for properties in Yathaval Street?

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

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

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

What are the guideline values of other streets in Virugambakkam?

Other streets in Virugambakkam have varying guideline values, with rates ranging from Rs 2,750 to Rs 13,200 per sq.ft. For example, Yathaval Street 1st Cross Street has a guideline value of Rs 3,300 per sq.ft in 2024.