Guideline Value for TANKVIEW STREET

Tankview Street guideline value

The current guideline value of Tankview Street is Rs 1,320 per sq.ft. This street is located in Pallikaranai village, 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 Street has changed

The guideline value of Tankview Street has undergone several revisions since 2002. In 2002, the value was Rs 80 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 25% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, a 300% increase from the previous revision.

Following this, the value rose dramatically to Rs 1,200 per sq.ft in 2012, which was a 200% increase from the 2007 figure. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from 2012. The register does not have figures for the years 2017 and 2023 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Tankview Street's 2024 value below that median.

• Tankview 2nd Street: Rs 1,320 per sq.ft (2024)
• Tankview 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Tankview Street?

The Sub Registrar Office that covers Tankview 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 is an important factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is used to calculate the applicable duties, ensuring that both parties adhere to the legal requirements set forth by the registration authorities. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Tankview Street?

The current guideline value for Tankview 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 from Rs 80 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1550% over the years.

What is the land classification for Tankview Street?

Tankview Street is classified as Residential Class IV Type - II, indicating its intended use for residential purposes.

Where can I find the registration office for Tankview Street?

The registration office for Tankview 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.

How is the stamp duty calculated for properties in Tankview Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.