Guideline Value for Tank Bund Road

Tank Bund Road guideline value

The current guideline value of Tank Bund Road is Rs 9,300 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Tank Bund Road has changed

The guideline value for Tank Bund Road has seen several revisions over the years. In 2007, the guideline value was Rs 4,000 per sq.ft, which increased significantly to Rs 8,500 per sq.ft in 2012. However, it then decreased to Rs 5,695 per sq.ft in 2017. The value rose again to Rs 8,500 per sq.ft in 2023, before reaching the current figure of Rs 9,300 per sq.ft in 2024, marking a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The value saw a substantial rise of 113% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Tank Bund Road's 2024 figure above this median.

• Susai Puram: Rs 5,500 per sq.ft (2024)
• Thennansolai Atrora Slum Area: Rs 6,600 per sq.ft (2024)
• Subbarayan Street: Rs 8,800 per sq.ft (2024)
• Subbarayan Avenue: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 3rd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Tank Bund Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Tank Bund Road?

The Sub Registrar Office that covers Tank Bund Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark for calculating these fees, ensuring that they reflect the official valuation set by the government. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tank Bund Road?

The current guideline value of Tank Bund Road is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 4,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, with various revisions in between.

What is the land classification for Tank Bund Road?

The land classification for Tank Bund Road is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Tank Bund Road?

The Sub Registrar Office for Tank Bund Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties on Tank Bund Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 6,51,000.