Guideline Value for TANK STREET (U.I. COLONY)

Tank Street (U.I. Colony) guideline value

The current guideline value of Tank Street (U.I. Colony) in Puliyur village is Rs 8,200 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Tank Street (U.I. Colony) has changed

Over the years, the guideline value of Tank Street has seen several revisions. The 2007 revision set the value at Rs 2,400 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in the 2012 revision, marking a rise of 213%. However, the value decreased to Rs 5,025 per sq.ft in the 2017 revision, reflecting a drop of 33%. The 2023 revision brought the value back up to Rs 7,500 per sq.ft, followed by a further increase to Rs 8,200 per sq.ft in the 2024 revision, which is a 9% rise from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 242%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, making the 2024 figure for Tank Street (U.I. Colony) above this median.

• Taylors Estate 1st Street: Rs 7,100 per sq.ft (2024)
• Taylors Estate 2nd Street: Rs 7,100 per sq.ft (2024)
• Taylors Estate 3rd Street: Rs 7,100 per sq.ft (2024)
• Tambaiah Road: Rs 11,000 per sq.ft (2024)
• Tambaiah Extension: Rs 11,000 per sq.ft (2024)
• Swaminathan Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Tank Street (U.I. Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, making the total fees Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property.

Which Sub Registrar Office covers Tank Street (U.I. Colony)?

The Sub Registrar Office that covers Tank Street (U.I. Colony) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Tank Street (U.I. Colony)?

The current guideline value of Tank Street (U.I. Colony) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 242% over the years.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Taylors Estate 1st Street, Taylors Estate 2nd Street, Taylors Estate 3rd Street, Tambaiah Road, Tambaiah Extension, and Swaminathan Street, with values ranging from Rs 6,300 to Rs 11,000 per sq.ft in 2024.

What is the registration fee for properties in Tank Street (U.I. Colony)?

The registration fee for properties in Tank Street is calculated based on the guideline value. For a property valued at Rs 82,00,000, the registration fee would be Rs 1,64,000 at 2%.

Where is the Sub Registrar Office for Tank Street (U.I. Colony)?

The Kodambakkam Sub Registrar Office, which covers Tank Street (U.I. Colony), is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.