Guideline Value for Tank Street

Tank Street guideline value

The current guideline value of Tank Street in Ambattur village, under the Ambattur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Type - II.

How the guideline value of Tank Street has changed

The guideline value of Tank Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This figure changed to Rs 2,345 per sq.ft in the 2017 revision, marking a decrease of 33%. However, there was a significant increase of 49% in the 2023 revision, bringing the value back up to Rs 3,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,800 per sq.ft, which is a 9% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Tank Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, making Tank Street's current value of Rs 3,800 per sq.ft above the median.

• Tass avenue: Rs 3,800 per sq.ft (2024)
• Tass Industrial Estate I: Rs 3,800 per sq.ft (2024)
• Tass Industrial Estate Part II: Rs 3,800 per sq.ft (2024)
• Teachers Colony 1st Main Road: Rs 2,800 per sq.ft (2024)
• Teachers Colony 1st Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony 20th street: Rs 2,800 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. It is 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 Ambattur

The guideline value plays a critical role during the registration of property transactions in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Tank Street?

The current guideline value of Tank Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, reflecting a 9% increase. It was Rs 2,345 per sq.ft in 2017, which was a decrease from Rs 3,500 per sq.ft in 2012.

What is the land classification for Tank Street?

The land classification for Tank Street is Industries Type - II.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Tank Street?

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