Guideline Value for Yerikkarai Street

Yerikkarai Street guideline value

The current guideline value of Yerikkarai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Yerikkarai Street has changed

The guideline value for Yerikkarai Street has undergone several revisions since 2002. In 2002, the value was Rs 352 per sq.ft. It increased to Rs 385 per sq.ft in 2003, marking a 9% rise. The value further increased to Rs 550 per sq.ft in 2007, reflecting a 43% change. In 2012, the guideline value was Rs 3,000 per sq.ft, which represented a significant increase of 445% from the previous revision. However, in 2017, it decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a final increase to Rs 3,300 per sq.ft in 2024, which is a 10% change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 838%. The register has no figures for the years not listed above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, indicating that Yerikkarai Street's 2024 figure is below this median.

• Yegambaram Street: Rs 3,300 per sq.ft (2024)
• 100 Feet Road: Rs 13,190 per sq.ft (2024)
• 80 Feet Road: Rs 8,800 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• V.V.Koil Street: Rs 3,300 per sq.ft (2024)
• V.P.Dasarathan Street: 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Yerikkarai Street?

The Sub Registrar Office that covers Yerikkarai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Saligramam. It determines the amount of stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value or the sale price, whichever is higher, is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 seen various changes, starting from Rs 352 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 838% over this period.

What are the other streets with similar guideline values in Saligramam?

Other streets in Saligramam with the same guideline value of Rs 3,300 per sq.ft as of 2024 include Yegambaram Street, West Mada Street, V.V.Koil Street, and V.P.Dasarathan Street.

What is the registration office for Yerikkarai Street?

The registration office for Yerikkarai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Yerikkarai Street?

Stamp duty for properties in Yerikkarai Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would amount to Rs 2,31,000.