Guideline Value for TANK STREET (WARD -9)

Tank Street (Ward -9) guideline value

The current guideline value of Tank Street (Ward -9) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Goodaloor village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Tank Street (Ward -9) has changed

The guideline value for Tank Street has undergone several revisions over the years. In the 2012 revision, the rate was Rs 500 per sq.ft, which changed to Rs 335 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision saw an increase to Rs 500 per sq.ft, and the most recent 2024 revision set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Goodaloor

In Goodaloor, there are 53 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,510 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Tank Street's 2024 figure below that median.

• Sundarapuram Kalivanthapattu (Ward -9): Rs 550 per sq.ft (2024)
• Thirukural Nagar (Kod): Rs 660 per sq.ft (2024)
• Thirumalai Nagar: Rs 660 per sq.ft (2024)
• Thirumalai Premimum County (Ward -9): Rs 1,100 per sq.ft (2024)
• T.N.H.B.Coodalur Village (Ward -9): Rs 825 per sq.ft (2024)
• Sri Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Tank Street (Ward -9)

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 more details.

Which Sub Registrar Office covers Tank Street (Ward -9)?

The Sub Registrar Office that covers Tank Street (Ward -9) 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 Goodaloor

The guideline value is a crucial factor in the registration process for property transactions in Goodaloor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Tank Street (Ward -9)?

The current guideline value of Tank Street (Ward -9) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Tank Street (Ward -9)?

Tank Street (Ward -9) is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Tank Street (Ward -9)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 5,50,000 would incur a stamp duty of Rs 38,500.