Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street in Ullagaram village, under the Alandur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III 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 value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. Following this, the value saw a significant rise of 418% to reach Rs 1,000 per sq.ft in 2007. The 2012 revision set the value at Rs 1,500 per sq.ft, but it dropped by 33% to Rs 1,005 per sq.ft in 2017. The value then increased by 49% to Rs 1,500 per sq.ft in 2023, culminating in the current value of Rs 1,700 per sq.ft in 2024, representing a 13% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 888% in the guideline value per sq.ft.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Yerikkarai Street's 2024 figure is below this median.

• Yogeshwaran Cross Street: Rs 3,900 per sq.ft (2024)
• Yogeshwaran Street Main: Rs 3,900 per sq.ft (2024)
• V O C Street: Rs 2,800 per sq.ft (2024)
• Vivekananda Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar Nagar Main: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 3rd 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 rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our 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 Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yerikkarai Street?

The current guideline value of Yerikkarai Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 888% over the years.

What is the land classification of Yerikkarai Street?

Yerikkarai Street is classified under Residential Class II Type - III.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Yerikkarai Street?

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