Guideline Value for WATER TANK ROAD CROSS STREET

Water Tank Road Cross Street guideline value

The current guideline value of Water Tank Road Cross Street is Rs 7,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Water Tank Road Cross Street has changed

The guideline value for Water Tank Road Cross Street has seen several revisions over the years. In the 2012 revision, the value was Rs 7,000 per sq.ft, which decreased to Rs 4,690 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 7,000 per sq.ft in the 2023 revision, and then rose again to Rs 7,500 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest increase from 2023 to 2024 is 7%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, making Water Tank Road Cross Street's 2024 figure above that median.

• West College Road: Rs 6,000 per sq.ft (2024)
• West Kamarajar Road: Rs 3,300 per sq.ft (2024)
• Vivekanandar Street: Rs 6,000 per sq.ft (2024)
• Visalakshi Street: Rs 5,000 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,700 per sq.ft (2024)
• Vinayagapuram Ist Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Water Tank Road Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,500 per sq.ft, the total guideline value amounts to Rs 75,00,000. The stamp duty at 7% would be Rs 5,25,000, and the registration fee at 2% would be Rs 1,50,000, bringing the total to Rs 6,75,000. 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 details.

Which Sub Registrar Office covers Water Tank Road Cross Street?

The Sub Registrar Office that covers Water Tank Road Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark to determine the minimum price at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Water Tank Road Cross Street?

The current guideline value of Water Tank Road Cross Street is Rs 7,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,000 in 2012 to Rs 4,690 in 2017, then to Rs 7,000 in 2023, and finally to Rs 7,500 in 2024. The changes reflect a significant increase from 2017 to 2023 and a smaller increase from 2023 to 2024.

What is the registration office for Water Tank Road Cross Street?

The registration office for Water Tank Road Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 75,00,000, the stamp duty would be Rs 5,25,000 and the registration fee would be Rs 1,50,000, totaling Rs 6,75,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification for Water Tank Road Cross Street?

The land classification for Water Tank Road Cross Street is Mixed Type - I, which indicates the type of land use permitted in this area.