Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Kottur village under the Adayar SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Yerikkarai Street has changed

The guideline value for Yerikkarai Street has undergone several revisions over the years. In 2002, the guideline value was Rs 575 per sq.ft, which increased to Rs 620 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,200 per sq.ft in 2007. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2012, before dropping to Rs 3,015 per sq.ft in 2017. The value rebounded to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 770%.

Between the revisions, the changes are as follows: from 2002 to 2003, the increase was +8%; from 2003 to 2007, it surged by +255%; from 2007 to 2012, there was a +105% increase; however, it decreased by -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was an increase of +11% from 2023 to 2024.

Guideline values in Kottur

In Kottur, there are 114 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, placing Yerikkarai Street's 2024 figure below that median.

• Yadaval Street: Rs 6,600 per sq.ft (2024)
• Yadaval Extension 4th Street: Rs 5,500 per sq.ft (2024)
• Yadaval Extension 3rd Street: Rs 5,500 per sq.ft (2024)
• Yadaval Extension 2nd Street: Rs 5,500 per sq.ft (2024)
• Yadaval Extension 1st Street: Rs 5,500 per sq.ft (2024)
• Valliyammai Achi Road: Rs 11,000 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 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, leading to a total of 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 use the stamp duty and registration fee calculator for further calculations.

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. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration of property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration fees and stamp duties are calculated appropriately.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to understand the costs associated with registration and taxation.

Frequently asked questions

What is the current guideline value of Yerikkarai Street?

The current guideline value of Yerikkarai Street 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 changed from Rs 575 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 770% over this period.

What is the median guideline value for streets in Kottur?

The median guideline value for streets in Kottur is Rs 6,100 per sq.ft, making Yerikkarai Street's 2024 figure below this median.

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

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 registrations for Yerikkarai Street?

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