Guideline Value for CHURCH STREET & ROAD

Church Street & Road guideline value

The current guideline value of Church Street & Road in Perungudi village is Rs 6,100 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Special Type - III.

How the guideline value of Church Street & Road has changed

The guideline value for Church Street & Road has seen significant changes over the years. In 2003, the value was Rs 650 per sq.ft, which increased to Rs 1,191 per sq.ft in 2007. Following that, the value jumped to Rs 5,500 per sq.ft in 2012, but then decreased to Rs 3,685 per sq.ft in 2017. The value rose again to Rs 5,500 per sq.ft in 2023, and most recently, it has reached Rs 6,100 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 838%. The register does not contain figures for the year 2002 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Church Street & Road above this median.

• Cheran Chenkuttuvan Street: Rs 3,300 per sq.ft (2024)
• Bound Salai: Rs 2,200 per sq.ft (2024)
• Bharathy Avenue: Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Elim Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Church Street & Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, resulting in a total of Rs 5,49,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Church Street & Road?

The Sub Registrar Office that covers Church Street & Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for Church Street & Road?

The current guideline value for Church Street & Road is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2003 to Rs 6,100 per sq.ft in 2024, marking an overall increase of 838% over the years.

What is the land classification for Church Street & Road?

Church Street & Road is classified as Residential Special Type - III under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Church Street & Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 5,49,000 in duties and fees.