Guideline Value for Yerikkarai Street (Main)

Yerikkarai Street (Main) guideline value

The current guideline value of Yerikkarai Street (Main) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Yerikkarai Street (Main) has changed

The guideline value for Yerikkarai Street (Main) has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 345 per sq.ft. This increased to Rs 419 per sq.ft in 2003, followed by a significant rise to Rs 1,250 per sq.ft in 2007. The value then jumped to Rs 4,500 per sq.ft in 2012, before dropping to Rs 3,015 per sq.ft in 2017. The most recent revisions show an increase to Rs 4,500 per sq.ft in 2023, and finally, the current value of Rs 5,000 per sq.ft from 2024.

In terms of percentage changes, the value increased by 11% from 2023 to 2024, by 49% from 2017 to 2023, decreased by 33% from 2012 to 2017, increased by 260% from 2007 to 2012, and increased by 198% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 1349%. There are no figures available for revisions between the years not listed.

Guideline values in Adambakkam

In total, there are 569 streets in Adambakkam under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Yerikkarai Street (Main) above this median.

• Yerikkarai Road 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 Street (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, bringing the total to 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.

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

Which Sub Registrar Office covers Yerikkarai Street (Main)?

The Sub Registrar Office that covers Yerikkarai Street (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 information.

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

The guideline value is a critical factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction aligns with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Yerikkarai Street (Main)?

The current guideline value of Yerikkarai Street (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 undergone several revisions, with the most recent increase being from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024.

What is the land classification for Yerikkarai Street (Main)?

Yerikkarai Street (Main) is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Yerikkarai Street (Main)?

The Sub Registrar Office for Yerikkarai Street (Main) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions in Adambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.