Guideline Value for Goldsmith Tank Street

Goldsmith Tank Street guideline value

The current guideline value of Goldsmith Tank Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Goldsmith Tank Street has changed

The guideline value for Goldsmith Tank Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017, before rising to Rs 2,000 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 214% from 2007 to 2024. Notably, there are no figures available for the revisions in 2002 and 2003 for Goldsmith Tank Street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Goldsmith Tank Street's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Glatier Eagappan Street: Rs 1,300 per sq.ft (2024)
• Gangannan Street: Rs 1,300 per sq.ft (2024)
• Gangannan East Street: Rs 1,300 per sq.ft (2024)
• Gangamman Koil Street(North-South): Rs 1,300 per sq.ft (2024)
• Gangamman Koil Street(East-West): Rs 1,300 per sq.ft (2024)
• Gurusadi Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Goldsmith Tank Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Goldsmith Tank Street?

The Sub Registrar Office that covers Goldsmith Tank Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

When buying or selling property in Tondaiarpet, the guideline value is a crucial factor in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the total costs involved in the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Goldsmith Tank Street?

The current guideline value of Goldsmith Tank Street is Rs 2,200 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 2,200 per sq.ft in 2024, marking an overall increase of 214% over this period.

What are the stamp duty and registration fees for properties in Goldsmith Tank Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Goldsmith Tank Street?

The Royapuram Sub Registrar Office handles registrations for Goldsmith Tank Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Goldsmith Tank Street?

Goldsmith Tank Street is classified as Residential Class I Type - I, indicating its designation for residential use.