Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street in Thalakanancherry village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Yerikkarai Street has changed

The guideline value for Yerikkarai Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and finally to the current rate of Rs 3,900 per sq.ft in 2024, reflecting an 11% increase from the previous year.

It is important to note that there are no recorded figures for Yerikkarai Street in the years 2002 and 2003. The overall change from 2007 to 2024 shows a remarkable increase of 457% in the guideline value per sq.ft.

Guideline values in Thalakanancherry

Thalakanancherry village has a total of 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Yerikkarai Street.

• Yezhuramman Koil Street (Ealuramman Koil Street): Rs 2,800 per sq.ft (2024)
• Yogeshwaran Street: Rs 3,900 per sq.ft (2024)
• Yogeshwaran Street Cross Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony Main: Rs 4,400 per sq.ft (2024)
• Voltas Colony Extension: Rs 4,400 per sq.ft (2024)
• Voltas Colony 9th Street: Rs 4,400 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. 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 more detailed calculations based on your property.

Which Sub Registrar Office covers Yerikkarai Street?

The Yerikkarai Street falls under the Alandur Sub Registrar Office located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Thalakanancherry, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Ensuring compliance with the guideline value helps in avoiding legal issues 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 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 457% over the years.

What are the stamp duty and registration fees for properties on Yerikkarai Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Yerikkarai Street?

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

What other streets have guideline values in Thalakanancherry?

Other streets in Thalakanancherry include Yezhuramman Koil Street, Yogeshwaran Street, and several streets in Voltas Colony, with values ranging from Rs 2,800 to Rs 4,400 per sq.ft.