Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Yerikkarai Street has changed

Over the years, the guideline value of Yerikkarai Street has seen significant changes. In 2002, the guideline value was Rs 159 per sq.ft. This figure rose to Rs 450 per sq.ft in 2003, marking an increase of 183%. The value continued to rise to Rs 1,000 per sq.ft in 2007, which was a 122% increase from the previous revision. In 2012, however, the guideline value decreased to Rs 2,500 per sq.ft, reflecting a drop of 33% from 2007. The value then increased again to Rs 1,675 per sq.ft in 2017, showing a 49% rise from the 2012 figure.

The most recent revisions show a guideline value of Rs 2,500 per sq.ft in 2023, followed by an increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,661%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value of Yerikkarai Street for 2024.

• 100 Feet Road: Rs 8,800 per sq.ft (2024)
• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Vinayagar Street: Rs 2,800 per sq.ft (2024)
• Vanjinathan Street: Rs 2,800 per sq.ft (2024)
• T.K. Kabali Street: Rs 2,800 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. 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 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property transaction in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When a property is bought or sold, the guideline value is used to calculate the applicable taxes and fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Yerikkarai Street?

The current guideline value of Yerikkarai Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,661% over the years.

What is the land classification for Yerikkarai Street?

Yerikkarai Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Yerikkarai Street located?

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