Guideline Value for Church Koil 2nd Street

Church Koil 2nd Street guideline value

The current guideline value of Church Koil 2nd Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village under the Redhills SRO, classified as Commercial Class I Type - I.

How the guideline value of Church Koil 2nd Street has changed

Over the years, the guideline value for Church Koil 2nd Street has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, this value dropped to Rs 670 per sq.ft in 2017, before rising again to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%. The 2023 to 2024 revision showed no change, maintaining the value at Rs 1,000 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 43%.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, making the 2024 figure for Church Koil 2nd Street equal to the median.

• Church Koil 1st Street: Rs 1,000 per sq.ft (2024)
• Church Koil 3rd Street: Rs 1,000 per sq.ft (2024)
• Church Koil Street: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar Main Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Church Koil 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Church Koil 2nd Street?

The Sub Registrar Office that covers Church Koil 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panchetty. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value serves as a baseline for determining the applicable charges. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Church Koil 2nd Street?

The current guideline value of Church Koil 2nd Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 1,000 per sq.ft in both 2023 and 2024. It was Rs 670 per sq.ft in 2017 and Rs 700 per sq.ft in 2007.

What is the land classification for Church Koil 2nd Street?

Church Koil 2nd Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Church Koil 2nd Street?

The registration office for Church Koil 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Church Koil 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.