Guideline Value for CHURCH AVENUE VGP SHANTHI NAGAR EXTENSION

Church Avenue Vgp Shanthi Nagar Extension guideline value

The current guideline value of Church Avenue Vgp Shanthi Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Church Avenue Vgp Shanthi Nagar Extension has changed

The guideline value for Church Avenue Vgp Shanthi Nagar Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 2,750 per sq.ft, marking a significant rise of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in the years 2023, 2007, 2003, and 2002 for this street. This lack of data indicates that the guideline value remained unchanged during those periods.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Church Avenue Vgp Shanthi Nagar Extension above this median.

• Cholan Street: Rs 1,650 per sq.ft (2024)
• Cittibabu Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Cittibabu Nagar Kulakarai Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Church Avenue Vgp Shanthi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Thus, the total cost for stamp duty and registration fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Church Avenue Vgp Shanthi Nagar Extension?

The Church Avenue Vgp Shanthi Nagar Extension is covered by 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 Pallikaranai

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the established property values in the area.

Frequently asked questions

What is the current guideline value of Church Avenue Vgp Shanthi Nagar Extension?

The current guideline value of Church Avenue Vgp Shanthi Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,750 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

Are there any years with no guideline value for this street?

Yes, there are no figures available for the years 2023, 2007, 2003, and 2002 for Church Avenue Vgp Shanthi Nagar Extension.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Church Avenue Vgp Shanthi Nagar Extension is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Church Avenue Vgp Shanthi Nagar Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find more information by visiting the relevant link.