Guideline Value for Tank Street

Tank Street guideline value

The current guideline value of Tank Street in Molachoor village is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - II, and it falls under the Sunguvarchattram SRO.

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 300 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 300 per sq.ft. The next revision in 2024 maintained the same rate of Rs 300 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Looking back further, the 2017 revision recorded a guideline value of Rs 201 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. Between 2012 and 2017, there was a decrease of 33% from the earlier Rs 300 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 300 per sq.ft.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 600 per sq.ft, which means that Tank Street's 2024 figure is below that median.

• Teachers Avenue: Rs 600 per sq.ft (2024)
• Thamarai Nagar: Rs 800 per sq.ft (2024)
• Subramanianswami Kovil Street: Rs 600 per sq.ft (2024)
• St.Joseph Nagar: Rs 605 per sq.ft (2024)
• Sri Varasithi Vinayagar Nagar: Rs 1,269 per sq.ft (2024)
• Thiruvallur Road (Palkara Street To Arinjar Anna Street): Rs 2,000 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Tank Street?

The Sub Registrar Office that covers Tank Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Molachoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value as it directly impacts the overall cost of registration. Buyers and sellers should ensure they are informed about the guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tank Street?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since the 2012 revision, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to 2023. The value has not changed from 2023 to 2024.

What is the land classification for Tank Street?

The land classification for Tank Street is Residential Class IV Type - II.

Where is the Sub Registrar Office for Tank Street located?

The Sub Registrar Office for Tank Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft would incur a total stamp duty of Rs 21,000.