Guideline Value for Yennai Karai Street

Yennai Karai Street guideline value

The current guideline value of Yennai Karai Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO and is classified as Residential Class II Type - II.

How the guideline value of Yennai Karai Street has changed

The guideline value for Yennai Karai Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. Following that, the value rose to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,800 per sq.ft.

Between these revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 350%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a significant rise of 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Vepery

In Vepery village, there are a total of 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, which is equal to the 2024 figure for Yennai Karai Street.

• Whannels Road: Rs 13,200 per sq.ft (2024)
• Wall Tax Road: Rs 13,200 per sq.ft (2024)
• VijayaVigneswar Koil Street: Rs 6,000 per sq.ft (2024)
• VeraChetty 3rd street: Rs 4,800 per sq.ft (2024)
• VeraChetty 2nd street: Rs 4,800 per sq.ft (2024)
• Vera Chetty 1st street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Yennai Karai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total to Rs 4,32,000. It is important to note that 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 details.

Which Sub Registrar Office covers Yennai Karai Street?

The Sub Registrar Office that covers Yennai Karai Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vepery

The guideline value is a crucial factor in property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the guideline value to understand the financial implications of their transactions.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with government regulations. It helps maintain transparency in property dealings and provides a standardized approach to property valuation.

Frequently asked questions

What is the current guideline value of Yennai Karai Street?

The current guideline value of Yennai Karai Street is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 380% over this period.

What is the land classification of Yennai Karai Street?

Yennai Karai Street is classified as Residential Class II Type - II under the Periamet SRO.

What are the stamp duty rates for properties in Yennai Karai Street?

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

Where is the Sub Registrar Office for Yennai Karai Street located?

The Sub Registrar Office for Yennai Karai Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.