Guideline Value for Yerikarai Street

Yerikarai Street guideline value

The current guideline value of Yerikarai Street is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Yerikarai Street has changed

The guideline value of Yerikarai Street has seen significant changes over the years. In the 2003 revision, the value was Rs 141 per sq.ft, which increased dramatically to Rs 1,273 per sq.ft in the 2017 revision, marking an increase of 803%. The 2023 revision further raised the value to Rs 1,900 per sq.ft, reflecting a 49% increase from the previous revision. The latest revision in 2024 sets the value at Rs 2,090 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 for this street.

Guideline values in Noombal

In Noombal, there are 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the 2024 figure for Yerikarai Street.

• Venkatraman Nagar: Rs 2,090 per sq.ft (2024)
• Venkada Samy Nagar: Rs 2,090 per sq.ft (2024)
• Vellalar Street: Rs 2,090 per sq.ft (2024)
• Velappan Nagar: Rs 2,090 per sq.ft (2024)
• Velappanchavadi Poovai High Road: Rs 4,290 per sq.ft (2024)
• Velappa Nagar: Rs 2,090 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 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total cost to Rs 1,88,100. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Yerikarai Street?

The Sub Registrar Office that covers Yerikarai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Noombal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is crucial for both buyers and sellers as it provides a standard reference point for property pricing.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yerikarai Street?

The current guideline value of Yerikarai Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 141 per sq.ft to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 1382% over the years.

What are the stamp duty and registration fees for property in Yerikarai Street?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers Yerikarai Street?

The Kunrathur Sub Registrar Office covers Yerikarai Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Yerikarai Street?

Yerikarai Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.