Guideline Value for Yerikkarai Road Main

Yerikkarai Road Main guideline value

The current guideline value of Yerikkarai Road Main is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Yerikkarai Road Main has changed

The guideline value for Yerikkarai Road Main has undergone several revisions over the years. In 2002, the value was Rs 367 per sq.ft, which increased to Rs 419 per sq.ft in 2003. The subsequent revision in 2007 saw a significant jump to Rs 1,250 per sq.ft, followed by an increase to Rs 4,500 per sq.ft in 2012. However, the value decreased to Rs 3,015 per sq.ft in 2017. The most recent revisions show a rise to Rs 4,500 per sq.ft in 2023, and now it stands at Rs 5,000 per sq.ft in 2024.

Between these revisions, notable changes include a 14% increase from 2002 to 2003, a 198% rise from 2003 to 2007, a 260% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, there has been an increase of 1262% in the guideline value.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. Yerikkarai Road Main's 2024 figure of Rs 5,000 per sq.ft is above this median.

• Yerikkarai Street (Main): Rs 5,000 per sq.ft (2024)
• Yamuna Street: Rs 3,900 per sq.ft (2024)
• Yadhaval street: Rs 3,900 per sq.ft (2024)
• Yadhaval Lane: Rs 3,900 per sq.ft (2024)
• West velalar street: Rs 5,000 per sq.ft (2024)
• West Karikalan Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikkarai Road Main

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Yerikkarai Road Main?

The Sub Registrar Office that covers Yerikkarai Road Main is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, which means understanding the guideline value is essential for accurate financial planning in property transactions.

Frequently asked questions

What is the current guideline value of Yerikkarai Road Main?

The current guideline value of Yerikkarai Road Main is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 367 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1262% since 2002.

What are the stamp duty and registration fees for property in Yerikkarai Road Main?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles property registration for Yerikkarai Road Main?

The Alandur Sub Registrar Office handles property registrations for Yerikkarai Road Main, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, which helps in calculating the applicable stamp duty and registration fees during property transactions in Adambakkam.