Guideline Value for West tank street

West tank street guideline value

The current guideline value of West tank street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village under the Tiruvallur Joint 1 SRO, classified as Residential Class I Type - I.

How the guideline value of West tank street has changed

In the 2007 revision, the guideline value for West tank street was Rs 320 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 369%. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, and the current 2024 revision has further raised it to Rs 1,650 per sq.ft, which is a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 416%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median value is Rs 1,100 per sq.ft, placing West tank street's 2024 figure above this median.

• V.O.C Street: Rs 1,100 per sq.ft (2024)
• V.M. Nagar: Rs 1,650 per sq.ft (2024)
• Vivekanadha Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha lind Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha lIIrd Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha Ist Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in West tank street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West tank street?

The Sub Registrar Office covering West tank street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvallur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value affects the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price. This ensures that both the state and the buyer are protected in the transaction.

Frequently asked questions

What is the current guideline value of West tank street?

The current guideline value of West tank street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 320 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 416% over this period.

What is the land classification for West tank street?

West tank street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,48,500 based on the current guideline value.

Where can I find the Sub Registrar Office for West tank street?

The Sub Registrar Office for West tank street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.