Guideline Value for Yegambaram Street

Yegambaram Street guideline value

The current guideline value of Yegambaram Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO with a land classification of Residential Class III Type - I.

How the guideline value of Yegambaram Street has changed

The guideline value for Yegambaram Street has seen significant changes over the years. In 2002, the guideline value was Rs 268 per sq.ft, which increased to Rs 293 per sq.ft in 2003. Following this, the value rose to Rs 550 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. The change from 2023 to 2024 was an increase of 10%, while the change from 2017 to 2023 was a 49% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1131%. The revisions for the years 2012 to 2017 saw a decrease of 33%, and the jump from 2007 to 2012 was a remarkable increase of 445%. The register has no figures for the years not listed above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, placing Yegambaram Street's 2024 figure below that median.

• Yerikkarai Street: Rs 3,300 per sq.ft (2024)
• 100 Feet Road: Rs 13,190 per sq.ft (2024)
• 80 Feet Road: Rs 8,800 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• V.V.Koil Street: Rs 3,300 per sq.ft (2024)
• V.P.Dasarathan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Yegambaram 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 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yegambaram Street?

The Sub Registrar Office that covers Yegambaram 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 Saligramam

The guideline value plays a crucial role in the registration of properties in Saligramam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct fees are paid during the registration process. This helps maintain transparency and legality in property transactions within the area.

Frequently asked questions

What is the current guideline value for Yegambaram Street?

The current guideline value for Yegambaram 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 significantly from Rs 268 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1131%.

What is the registration office for Yegambaram Street?

The registration office for Yegambaram 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 Yegambaram Street?

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

What are the guideline values of other streets in Saligramam?

Other streets in Saligramam have varying guideline values, ranging from Rs 2,750 to Rs 13,200 per sq.ft. Notable streets include Yerikkarai Street and 100 Feet Road, with values of Rs 3,300 and Rs 13,190 per sq.ft respectively.