Guideline Value for Yerikkarai Road

Yerikkarai Road guideline value

The current guideline value of Yerikkarai Road is Rs 3,300 per sq.ft, as per the 2024 revision effective from 1 July 2024. This road is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Yerikkarai Road has changed

The guideline value for Yerikkarai Road has seen several revisions over the years. In 2002, the value was Rs 343 per sq.ft. This increased to Rs 373 per sq.ft in 2003, marking a rise of 9%. The value continued to rise significantly, reaching Rs 650 per sq.ft in 2007, which was an increase of 74%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a substantial rise of 362%. However, there was a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures available in the register for any other years for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that the guideline value of Yerikkarai Road is below this median.

• Yogam Garden: Rs 3,850 per sq.ft (2024)
• West Kamokodi nagar Viyasar Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Velavan 3rd Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Velavan 2nd Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Velavan 1st Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Sundarar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikkarai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Yerikkarai Road?

The Yerikkarai Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Yerikkarai Road?

The current guideline value of Yerikkarai Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 343 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 862% over this period.

What is the median guideline value for streets in Valasaravakkam?

The median guideline value for the 774 streets in Valasaravakkam is Rs 3,850 per sq.ft as per the 2024 revision.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Yerikkarai Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.