Guideline Value for Church Colony

Church Colony guideline value

The current guideline value of Church Colony, located in Venkatapuram village under the Adayar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Church Colony has changed

The guideline value for Church Colony has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,070 per sq.ft. It increased to Rs 1,151 per sq.ft in 2003, marking an 8% rise. The value then saw a significant increase of 95% to Rs 2,250 per sq.ft in 2007. Following this, the 2012 revision recorded a decrease to Rs 4,000 per sq.ft, a drop of 33% from the previous figure. In 2017, the value rose to Rs 2,680 per sq.ft, which was a 49% increase. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent 2024 revision increased it by 10% to the current rate of Rs 4,400 per sq.ft.

The overall change from 2002 to 2024 shows a significant increase of 311%, reflecting the various fluctuations in the guideline value over the years.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Church Colony's 2024 figure below this median.

• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)
• Bishop Colony: Rs 8,300 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Arokkiyamada Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Church Colony

For a 1,000 sq.ft plot in Church Colony at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. 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 Colony?

The Sub Registrar Office that covers Church Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Venkatapuram. It helps determine the stamp duty and registration fees that must be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Church Colony?

The current guideline value of Church Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,070 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 311% over this period.

What is the land classification for Church Colony?

Church Colony is classified as Residential Class III Type - I, which is significant for understanding the regulations and uses permitted in this area.

Where can I find the Sub Registrar Office for Church Colony?

The Sub Registrar Office for Church Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,96,000.