Guideline Value for Tennary Street

Tennary Street guideline value

The current guideline value of Tennary Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Tennary Street has changed

The guideline value for Tennary Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 222 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a significant rise of 125%. The value then jumped to Rs 3,000 per sq.ft in 2012, which was a 500% increase from the previous revision. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. In 2023, the value rose again to Rs 3,000 per sq.ft, and it has now reached Rs 3,300 per sq.ft in the 2024 revision, an increase of 10% from the previous year.

Overall, the guideline value has increased by 1386% from the 2003 revision to the current 2024 figure. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Tennary Street.

• Syed Line: Rs 2,750 per sq.ft (2024)
• Thiruneermalai Road (PART): Rs 4,400 per sq.ft (2024)
• Thiru.Vi.Ka. Street (poli chetty street): Rs 3,850 per sq.ft (2024)
• Valluvar Pettai: Rs 4,400 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,300 per sq.ft (2024)
• Vinayakar Koil Street: Rs 3,300 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 amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tennary Street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees based on the property’s value. Buyers and sellers should be aware that the guideline value may influence the overall costs involved in a transaction.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process aligns with the established values set by the government.

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 from Rs 222 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of 1386% over that period.

What is the land classification for Tennary Street?

Tennary Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Tennary Street?

The Sub Registrar Office for Tennary Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Tennary Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.