Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street in Moovarasampattu village, under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Yerikkarai Street has changed

The guideline value for Yerikkarai Street has seen significant changes over the years. In 2002, the value was Rs 145 per sq.ft. This increased to Rs 160 per sq.ft in 2003, marking a 10% rise. The value then rose sharply to Rs 400 per sq.ft in 2007, reflecting a 150% increase. Following that, the value surged to Rs 3,000 per sq.ft in 2012, a remarkable 650% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then climbed back to Rs 3,000 per sq.ft in 2023, and finally, it reached 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 2,176%. There are no figures available for the revisions in years other than those listed.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Yerikkarai Street.

• Yamunai Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Vaigai Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Thungapathira Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Thamirabarani Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 3,300 per sq.ft (2024)
• Sindhu Street(GANGA NAGAR): Rs 3,300 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 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 cost 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yerikkarai Street?

The Yerikkarai Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established value of the property.

Frequently asked questions

What is the current guideline value of Yerikkarai Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 145 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,176% over the years.

What is the land classification for Yerikkarai Street?

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

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property valued at Rs 3,300 per sq.ft would incur specific fees based on that guideline value.