Guideline Value for TANKVIEW 2ND STREET

Tankview 2nd Street guideline value

The current guideline value of Tankview 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Tankview 2nd Street has changed

The guideline value for Tankview 2nd Street has undergone several revisions since 2002. The values started at Rs 80 per sq.ft in 2002, which increased to Rs 100 per sq.ft in 2003, reflecting a 25% rise. By 2007, the value surged to Rs 400 per sq.ft, marking a significant 300% increase. The 2012 revision saw the value jump to Rs 1,200 per sq.ft, a remarkable 200% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 10% increase from 2012.

There are no figures available for the revisions in 2017 and 2023 for Tankview 2nd Street. Overall, from 2002 to 2024, the guideline value has increased by 1550%, reaching Rs 1,320 per sq.ft.

Guideline values in Pallikaranai

In Pallikaranai village, there are 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 figure for Tankview 2nd Street below that median.

• Tankview 1st Street: Rs 1,320 per sq.ft (2024)
• Tankview Street: Rs 1,320 per sq.ft (2024)
• Tamizhar Quarters Extn.: Rs 1,650 per sq.ft (2024)
• Tamizhar Quarters: Rs 1,650 per sq.ft (2024)
• Syndicate Bank Colony: Rs 2,750 per sq.ft (2024)
• Thaai Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Tankview 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fees would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tankview 2nd Street?

The Sub Registrar Office that covers Tankview 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

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

When buying or selling property, it is essential to consider the guideline value, as it affects the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Tankview 2nd Street?

The current guideline value of Tankview 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 80 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1550% over this period.

What are the stamp duty and registration fees for property in Tankview 2nd Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,18,800.

Which Sub Registrar Office covers Tankview 2nd Street?

The Chennai South Joint I Sub Registrar Office covers Tankview 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Are there any revisions without figures for Tankview 2nd Street?

Yes, the register has no figures for Tankview 2nd Street for the years 2017 and 2023.