Guideline Value for Tank Street

Tank Street guideline value

The current guideline value of Tank Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Tank Street has changed

The guideline value for Tank Street has undergone several revisions over the years. In 2002, the value was Rs 146 per sq.ft, which increased significantly to Rs 170 per sq.ft in 2003, marking a 16% rise. By 2007, the value surged to Rs 200 per sq.ft, a further increase of 18%. The most substantial jump occurred in 2012, when the value reached Rs 2,200 per sq.ft, representing a remarkable 1000% increase from the previous revision. However, by 2017, the value decreased to Rs 1,474 per sq.ft, a decline of 33%.

As of the 2024 revision, the guideline value stands at Rs 2,400 per sq.ft. This indicates a 63% increase from the 2017 figure. Notably, there is no figure for Tank Street in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 1544%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which matches the current value of Tank Street.

• Tagore Street(Senthil nagar): Rs 2,700 per sq.ft (2024)
• Tagore Street (J.B. Nagar): Rs 2,400 per sq.ft (2024)
• Swami Nagar: Rs 1,600 per sq.ft (2024)
• Thamarai Nagar: Rs 2,400 per sq.ft (2024)
• Suresh Bhavanam (Vivekannadhar Nagar): Rs 2,700 per sq.ft (2024)
• Thamarai Nagar 1st Street: Rs 2,400 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 information.

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

The guideline value is a critical factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation of the property.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations 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 2,400 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 146 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1544% over the years.

What is the stamp duty rate for property in Tank Street?

The stamp duty rate for property in Tank Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Tank Street located?

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

What is the median guideline value for streets in Thirumullaivoyal?

The median guideline value for streets in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as the current value for Tank Street.