Guideline Value for Yerikarai Street

Yerikarai Street guideline value

The current guideline value of Yerikarai Street in Thiruneermalai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class III Type - I.

How the guideline value of Yerikarai Street has changed

The guideline value of Yerikarai Street has seen several revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. By 2017, the value rose significantly to Rs 804 per sq.ft, marking a 130% increase from the previous revision. The 2023 revision set the value at Rs 1,200 per sq.ft, reflecting a 49% increase from 2017. The most recent revision in 2024 has brought the value to Rs 1,320 per sq.ft, which is 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 2003 to 2024, the guideline value has increased by 323%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, indicating that Yerikarai Street's 2024 figure is below that median.

• Yerikarai Pillayar Koil Street (Ward 13): Rs 1,320 per sq.ft (2024)
• Yerikarai Pillayar Koil 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 Street

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 be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Yerikarai Street?

The Sub Registrar Office that covers Yerikarai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must consider the guideline value in their transactions. The registration process requires that the property is registered at the guideline value or the sale price, whichever is higher, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Yerikarai Street?

The current guideline value of Yerikarai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 312 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 323% over the years.

What are the other streets in Thiruneermalai with the same guideline value?

Other streets in Thiruneermalai with the same guideline value of Rs 1,320 per sq.ft in 2024 include Yerikarai Pillayar Koil Street (Ward 13), Yerikarai Pillayar Koil Street, and West Kulakarai Street.

What is the stamp duty rate applicable in Thiruneermalai?

The stamp duty rate applicable in Thiruneermalai is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Yerikarai Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.