Guideline Value for Tank Street

Tank Street guideline value

The current guideline value of Tank Street in Kovilpathagai village is Rs 805 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of Tank Street has changed

The guideline value for Tank Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 72%, bringing the value back to Rs 805 per sq.ft, where it has remained through the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for Tank Street. The current guideline value of Rs 805 per sq.ft is the same as the previous revision in 2023, indicating stability in this recent period.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Tank Street's 2024 value below this median.

• Swathy Nagar: Rs 880 per sq.ft (2024)
• Swathy Garden: Rs 880 per sq.ft (2024)
• Swathi Street: Rs 880 per sq.ft (2024)
• Swamy Nagar: Rs 990 per sq.ft (2024)
• Swami Pillai Street: Rs 806 per sq.ft (2024)
• S.V. Nagar: Rs 803 per sq.ft (2024)

Stamp duty and registration fee for property in Tank Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value amounts to Rs 8,05,000. The stamp duty charged at 7% would be Rs 56,350, and the registration fee at 2% would be Rs 16,100, leading to a total cost of Rs 72,450. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Tank Street?

The Sub Registrar Office that covers Tank Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with legal requirements.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Tank Street?

The current guideline value of Tank Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification of Tank Street?

Tank Street is classified as Residential Class II Type - II under the Ambattur SRO.

What are the stamp duty and registration fees for property in Tank Street?

For a property valued at Rs 8,05,000, the stamp duty would be Rs 56,350 and the registration fee would be Rs 16,100, totaling Rs 72,450.

Which Sub Registrar Office covers Tank Street?

The Ambattur Sub Registrar Office covers Tank Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.