Guideline Value for TANK STREET (CHEN)

Tank Street (Chen) guideline value

The current guideline value of Tank Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Tank Street (Chen) has changed

In the 2012 revision, the guideline value for Tank Street (Chen) was Rs 600 per sq.ft. This figure remained unchanged in the subsequent 2017 revision, which saw a decrease of 33% to Rs 402 per sq.ft. The value then increased significantly by 49% to Rs 600 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 660 per sq.ft, marking a 10% increase from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Sengundram - 1

Sengundram - 1 village has a total of 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, positioning Tank Street (Chen) below this median.

• Swamidass Nagar (Chen): Rs 770 per sq.ft (2024)
• Surithi Garden: Rs 1,320 per sq.ft (2024)
• Thatchab Avenue (Chen): Rs 770 per sq.ft (2024)
• Sun City: Rs 1,320 per sq.ft (2024)
• Thilakar Street (Chen): Rs 660 per sq.ft (2024)
• Thilakar V O C Nagar (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Tank Street (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for stamp duty and registration would be Rs 59,400. 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 further calculations.

Which Sub Registrar Office covers Tank Street (Chen)?

The Sub Registrar Office that covers Tank Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor during property transactions in Sengundram - 1. It serves as a basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value helps to establish a fair value for the transaction, which is essential for both buyers and sellers. It provides transparency in the registration process and helps in avoiding disputes regarding property valuations.

Frequently asked questions

What is the current guideline value of Tank Street (Chen)?

The current guideline value of Tank Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with various fluctuations in between. Notably, it decreased to Rs 402 per sq.ft in 2017 before rising again in 2023.

What is the land classification for Tank Street (Chen)?

Tank Street (Chen) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in Tank Street (Chen)?

The stamp duty for property transactions in Tank Street (Chen) is set at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Tank Street (Chen)?

The Chengleput Joint II Sub Registrar Office covers Tank Street (Chen) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.