Guideline Value for TANK ST

Tank St guideline value

The current guideline value of Tank St in Srikaligapuram village, under the Ramakrishna Rajupettai SRO, is Rs 150 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Tank St has changed

The guideline value for Tank St has seen several revisions over the years. In the 2007 revision, the value was set at Rs 40 per sq.ft, which increased to Rs 75 per sq.ft in 2012. However, there was a significant drop to Rs 50 per sq.ft in the 2017 revision. The value then rose dramatically to Rs 150 per sq.ft in both the 2023 and 2024 revisions, reflecting a 200% increase from 2017 to 2023.

It is important to note that there are no figures available for Tank St in the 2002 and 2003 revisions. The overall change from the 2007 revision to the 2024 revision shows an increase of 275% in the guideline value per sq.ft.

Guideline values in Srikaligapuram

Srikaligapuram village has 17 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 150 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Tank St is equal to this median.

• Thiruvalluvar St: Rs 150 per sq.ft (2024)
• Solingar Raod St: Rs 150 per sq.ft (2024)
• Small St: Rs 150 per sq.ft (2024)
• Vannier St: Rs 150 per sq.ft (2024)
• Santhu St: Rs 150 per sq.ft (2024)
• Road St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Tank St

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, charged at 7%, amounts to Rs 10,500, and the registration fee at 2% totals Rs 3,000. Together, the total fees would be Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tank St?

The Sub Registrar Office that covers Tank St is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Srikaligapuram. During the registration process, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark to assess the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Tank St?

The current guideline value of Tank St is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, showing an overall increase of 275% over the years.

What is the land classification for Tank St?

Tank St falls under the Residential Class I Type - I land classification.

Where is the Sub Registrar Office for Tank St located?

The Ramakrishna Rajupettai Sub Registrar Office is located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.