Guideline Value for WEST TANKVIEW STREET

West Tankview Street guideline value

The current guideline value of West Tankview Street in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of West Tankview Street has changed

The guideline value for West Tankview Street has undergone several revisions over the years. In 2002, the guideline value was Rs 967 per sq.ft, which increased to Rs 1,070 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,300 per sq.ft, reflecting a 21% increase. The 2012 revision saw the value jump to Rs 6,500 per sq.ft, a remarkable increase of 400%. However, this was followed by a decrease to Rs 4,355 per sq.ft in 2017, which represented a decline of 33%. The value then increased to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,150 per sq.ft in the 2024 revision, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 639%. There are no figures available for the years not listed in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of West Tankview Street is below this median.

• West Mada Veethi: Rs 7,150 per sq.ft (2024)
• West Kulakari Veethi: Rs 7,150 per sq.ft (2024)
• Yamuna Street: Rs 11,000 per sq.ft (2024)
• Watter Land Drive: Rs 11,000 per sq.ft (2024)
• Vikram Sarabai Instronics Estate: Rs 12,650 per sq.ft (2024)
• Vembuli Amman Kovil Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in West Tankview Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Tankview Street?

The Sub Registrar Office that covers West Tankview Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of West Tankview Street?

The current guideline value of West Tankview Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 967 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting a significant increase of 639% over the years.

What are the other streets in Thiruvanmiyur with similar guideline values?

Other streets in Thiruvanmiyur with similar guideline values include West Mada Veethi and West Kulakari Veethi, both at Rs 7,150 per sq.ft in 2024.

How is the stamp duty calculated for properties in West Tankview Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 5,00,500 based on the current guideline value.

Where can I find the Sub Registrar Office for West Tankview Street?

The Sub Registrar Office for West Tankview Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information online.