Guideline Value for Yerikarai Pillayar Koil Street (Ward 13)

Yerikarai Pillayar Koil Street (Ward 13) guideline value

The current guideline value of Yerikarai Pillayar Koil Street (Ward 13) is Rs 1,320 per sq.ft. This street is located in Thiruneermalai village and falls under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of Yerikarai Pillayar Koil Street (Ward 13) has changed

The guideline value of Yerikarai Pillayar Koil Street has undergone several revisions over the years. The earliest recorded value was Rs 312 per sq.ft in 2003, which increased to Rs 350 per sq.ft in 2007, marking a 12% rise. By 2017, the value saw a significant increase to Rs 804 per sq.ft, reflecting a 130% change. The 2023 revision set the value at Rs 1,200 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, representing a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 323%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. Yerikarai Pillayar Koil Street's current guideline value is below this median.

• Yerikarai Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Yerikarai Street: Rs 1,320 per sq.ft (2024)
• West Kulakarai Street: Rs 1,320 per sq.ft (2024)
• VOC Street / Durga Nagar: Rs 2,420 per sq.ft (2024)
• Vinoba Street: Rs 2,420 per sq.ft (2024)
• Vikshadha Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikarai Pillayar Koil Street (Ward 13)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Therefore, the total cost for stamp duty and registration fee would be Rs 1,18,800. 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 details.

Which Sub Registrar Office covers Yerikarai Pillayar Koil Street (Ward 13)?

The Sub Registrar Office that covers Yerikarai Pillayar Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum price at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure compliance with legal requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the agreed sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yerikarai Pillayar Koil Street?

The current guideline value of Yerikarai Pillayar Koil Street (Ward 13) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 312 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 323% across various revisions.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft. Yerikarai Pillayar Koil Street's current value is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. This is calculated based on the guideline value.

Which office handles registrations for Yerikarai Pillayar Koil Street?

The Pammal Sub Registrar Office handles registrations for Yerikarai Pillayar Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.