Guideline Value for Tennary Street

Tennary Street guideline value

The current guideline value of Tennary Street in Cantonment Pallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Tennary Street has changed

The guideline value for Tennary Street has undergone several revisions over the years. The earliest recorded value in 2003 was Rs 215 per sq.ft. This figure increased significantly to Rs 600 per sq.ft in 2007, marking a 179% rise. In 2012, the value saw a substantial increase to Rs 3,000 per sq.ft, which was a 400% jump from the previous revision. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% decline. The guideline value then rose to Rs 3,000 per sq.ft in 2023, an increase of 49%, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

It is important to note that there is no recorded figure for Tennary Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1435%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Tennary Street's 2024 guideline value above this median.

• Station Road: Rs 3,300 per sq.ft (2024)
• Srinivasapillai Thottam: Rs 3,300 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Valluvar Street: Rs 2,700 per sq.ft (2024)
• Venkatachalam Street: Rs 3,300 per sq.ft (2024)
• Venkatachala Naicken Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Tennary Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tennary Street?

The Sub Registrar Office covering Tennary Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property. The registration office uses this value to ensure that the correct fees are collected based on the property's worth as assessed by the government.

When a buyer or seller engages in a property transaction, the guideline value helps in establishing a fair price for the property in the eyes of the law. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Tennary Street?

The current guideline value of Tennary Street is Rs 3,300 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 215 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1435% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Tennary Street?

The Pallavaram Sub Registrar Office handles property registrations for Tennary Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing the property's worth and ensures that the correct fees are collected by the registration office.