Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Yerikkarai Street has changed

Yerikkarai Street has seen significant changes in its guideline value over the years. In the 2007 revision, the guideline value was Rs 1,300 per sq.ft. This increased dramatically to Rs 5,500 per sq.ft in the 2012 revision, marking a 323% increase. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 5,500 per sq.ft in the 2023 revision, which was a 49% increase. The current value of Rs 6,100 per sq.ft from the 2024 revision represents an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 369%.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,100 per sq.ft, which is equal to the current guideline value of Yerikkarai Street.

• Yadhaval Street: Rs 6,600 per sq.ft (2024)
• Yadhaval 4th Street: Rs 5,500 per sq.ft (2024)
• Yadhaval 3rd Street: Rs 5,500 per sq.ft (2024)
• Yadhaval 2nd Street: Rs 5,500 per sq.ft (2024)
• Yadhaval 1st Street: Rs 5,500 per sq.ft (2024)
• Vellaiyan Road: Rs 10,500 per sq.ft (2024)

Stamp duty and registration fee for property in Yerikkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total fees together to Rs 5,49,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Yerikkarai Street?

The Sub Registrar Office that covers Yerikkarai Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Adayar. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Buyers and sellers should be aware that the guideline value can vary significantly between different streets and areas. It is advisable to check the latest guideline values to ensure that all fees are calculated based on the most current figures.

Frequently asked questions

What is the current guideline value for Yerikkarai Street?

The current guideline value for Yerikkarai Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,300 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, marking an overall increase of 369% over the years.

What is the land classification for Yerikkarai Street?

Yerikkarai Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Yerikkarai Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 5,49,000.