Guideline Value for Chruch Street

Chruch Street guideline value

The current guideline value of Chruch Street in Nerkundram village, under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Chruch Street has changed

The guideline value for Chruch Street has undergone several revisions over the years. In 2002, the value was Rs 75 per sq.ft, which increased to Rs 83 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 300 per sq.ft in 2007, a 261% increase. By 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a 733% increase from the previous revision. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, which was a 33% drop. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 3,567%. There are no other years in the register that provide figures for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Chruch Street's 2024 value above this median.

• Chinmaya Nagar Extension: Rs 3,850 per sq.ft (2024)
• Dayasadan Road: Rs 2,750 per sq.ft (2024)
• Devi Karumari Amman Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Devi Karumari Amman Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Devi Karumari Amman Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Devi Karumari Amman Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chruch Street

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, bringing the total to 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. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chruch Street?

The Sub Registrar Office that covers Chruch Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The value is set by the Registration Department and is periodically revised to reflect changes in the real estate market.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Chruch Street?

The current guideline value of Chruch Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 3,567% over the years.

What is the land classification for Chruch Street?

Chruch Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Chruch Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Chruch Street?

The Virugambakkam Sub Registrar Office handles registrations for Chruch Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.