Guideline Value for South tank Street

South tank Street guideline value

The current guideline value of South tank Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village under the Tiruvallur Joint 1 SRO, classified as Residential Special Type - I.

How the guideline value of South tank Street has changed

The guideline value for South tank Street has undergone several revisions over the years. The earliest recorded figure is from 2007, with a value of Rs 320 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 525%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value surged again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for South tank Street in the years 2002 and 2003. From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2007 to 2024 shows a remarkable increase of 588%.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that have a guideline value for 2024, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing South tank Street's 2024 figure above that median.

• Solan Street: Rs 1,100 per sq.ft (2024)
• Sivam Nagar: Rs 1,100 per sq.ft (2024)
• Sithivinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Sir.C.V Raman Street: Rs 1,100 per sq.ft (2024)
• Sir.C.V Raman Corss Street: Rs 1,100 per sq.ft (2024)
• Seran Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in South 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, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers South tank Street?

The Sub Registrar Office that covers South tank Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvallur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

During the registration process, the guideline value helps in assessing the value of the property being transferred. It ensures that the property is not undervalued, thereby protecting the interests of the government in terms of revenue collection through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of South tank Street?

The current guideline value of South 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 320 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What are the stamp duty and registration fees for a property in South tank Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers South tank Street?

The Tiruvallur Joint 1 Sub Registrar Office covers South tank Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification of South tank Street?

South tank Street is classified as Residential Special Type - I under the guidelines of the Tiruvallur Joint 1 SRO.